US sanctions ripple to Qingdao as port operator drops firms from acquisition
Qingdao Port International abandons planned acquisition of Shandong United Energy Pipeline Transportation and its subsidiary after they are targeted by the US for enabling Russian crude flows
Qingdao port said it removed the two pipeline firms from the deal partly because bankruptcy proceedings for key customers were not progressing as anticipated. However, one of the firms was sanctioned by Ofac in January