China Investors Face Increasing Sanctions Risk [Forbes]
CHINA MRCHNTS BK UNSP/ADR (CIHKY)
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Source: Forbes
China Investors Face Increasing Sanctions Risk China-bound investors are facing risks beyond trade tariffs. Sanctions are now part of the process, with major shipping company COSCO getting sanctioned on September 25 as part of Washington’s anti-Iran policies. COSCO shares in Hong Kong have since recovered. It might not last. Other companies are on the hot seat. Treasury’s Iran-related sanctions against China also included specific subsidiaries of COSCO Group — a name most have seen written on the side of a shipping container sitting portside from Boston to Los Angeles – such as Kunlun Shipping and Kunlun Holding. The Kunlun firms have links to the state-owned China National Petroleum Corporation (CNPC). Washington thinks that China’s Bank of Kunlun has been financing Iranian oil shipments, giving them a reason to punish China beyond the trade war. The Bank denies financing Iranian oil shipments in dollars. Future sanctions on CNPC-linked entities are likely. The immediate macroeconomi
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