US Secretary of State Mike Pompeo announced on Monday that Zhuhai Zhenrong was being added to the sanctions blacklist. Photo: Bloomberg

US blacklist pushes once-powerful Chinese state oil trader deeper into the shadows

  • Used by Beijing to buy oil from Iran, Zhuhai Zhenrong was first penalised in 2012, and this week was placed on sanctions blacklist for trading in Iranian crude
  • US Secretary of State Mike Pompeo made the announcement that has cut the company off from the US-dollar-dominated financial system
Topic |   China economy

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US Secretary of State Mike Pompeo announced on Monday that Zhuhai Zhenrong was being added to the sanctions blacklist. Photo: Bloomberg
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