China's Foreign Ministry said it was not aware of the US decision to impose a ban on oil ships of the Shandong Port Group company, which are subject to US sanctions and are not allowed to enter its controlled ports. This was reported by a ministry spokesman, quoted by "Reuters" and News.bg.
Shandong Port Group owns a number of important terminals in Shandong province, which is the main entry point for Iranian, Russian and Venezuelan oil imported into China. Last year, these shipments accounted for almost a fifth of the country's total oil imports.
However, traders predict that the sanctions will lead to increased transportation costs for independent refiners in Shandong, which often buy sanctioned oil from the three countries. The ban could also slow down China's overall oil imports.
A Chinese spokesman said the ministry had not been informed of the US decision and reiterated that China has consistently opposed the "lack of international law by the United States, illegal unilateral sanctions and long-arm jurisdiction imposed without the authorization of the UN Security Council."