u/CommodityInsights

>More Chinese independent oil refineries are preparing for potential US sanctions over their involvement in Iranian oil-related business, setting up new entities and registering separate bank accounts to get around any measures that are imposed, according to industry sources.

>The move comes after the US sanctioned China's second-largest independent refinery Hengli Petrochemical (Dalian) Refinery, and Qingdao Haiye Oil Terminals.