China has vowed to safeguard domestic enterprises after the United States imposed sanctions on a Dalian-based oil refiner and several Hong Kong-registered shipping firms over alleged involvement in the Iranian oil trade and shipments. The US Treasury Department’s Office of Foreign Assets Control (OFAC) on April 24 added Hengli Petrochemical (Dalian) Refinery Co Ltd to […] The post China defends firms as US sanctions Hengli over Iran oil appeared first on Asia Times .