MOFCOM just invoked the blocking statute for the first time, ordering all firms not to recognise, enforce, or comply with US sanctions imposed under EO 13902 & 13846 targeting 5 Chinese teapot refineries for their involvement in Iranian oil transactions. The decoupling is coming

Henry Gao

@henrysgao · Twitter · 2021-04-02 00:59 UTC

If the Blocking Statute is invoked this time, many big companies will be put between a rock and a hard place, as I mentioned in my @nytimes interview on the Blocking Statute when it first came out. https://www.nytimes.com/2021/01/09/business/china-rules-trump-biden-sanctions.html