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SENSEX 75,237.99
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NIFTY 23,643.50
-46.10
NIFTY 23,643.50
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CRUDEOIL 10,145.00
+ 421.00
CRUDEOIL 10,145.00
+ 421.00
GOLD 158,189.00
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Last month, the US sanctioned several independent oil refineries buying oil from Iran, including China’s Hengli Petrochemical refinery in Dalian
By PTI
Updated – May 15, 2026 at 09:57 PM.
|
Washington
US President Donald Trump
| Photo Credit:
REUTERS
US President Donald Trump said on Friday that he will soon decide on lifting sanctions on Chinese oil companies that buy oil from Iran.
Last month, the US sanctioned several independent oil refineries buying oil from Iran, including China’s Hengli Petrochemical refinery in Dalian.
“Well, we talked about that, and I’m going to make a decision over the next few days,” Trump told reporters when asked if he would consider removing the sanctions on Chinese oil companies buying Iranian oil.
He spoke to reporters en route to the US after his visit to China, where he discussed a range of issues with President Xi Jinping.
Trump said Xi told him he favoured opening the Strait of Hormuz, a crucial, narrow sea route used to ferry 20 per cent of global oil supplies.
The strait has remained closed since US-Iran hostilities began on February 28, choking global oil supplies.
China procures a significant portion of its oil supplies from Iran.
Published on May 15, 2026
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