The Mystery Behind China's Zhuhai Zhenrong

摘要

When the US State Department announced last month that it was blacklisting Chinese state trader Zhuhai Zhenrong for "knowingly" shipping oil from Iran — after a sanctions waiver allowing China to continue buying Iranian crude had expired in early May — the company made no comment at all. Instead, it was left to the Chinese government, in the form of the foreign ministry, to voice its opposition to the move, which will freeze whatever assets Zhenrong has in the US and ban the company's chief executive, Li Youmin, from entering the US.