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Sanctions Tankers and Gas VLCC

Chinese inspection group CCIC exits Singapore as US sanctions bite

  • CCIC’s Singapore subsidiary was forced to close after US sanctions froze its bank accounts, halting operations and triggering layoffs
  • Company was blacklisted for allegedly facilitating Iranian oil trade by disguising shipments and falsifying documents
  • Shutdown highlights the growing impact of US sanctions on major Chinese firms involved in the global energy supply chain

  • News

CCIC’s Singapore subsidiary has been forced to shut down and lay off hundreds of employees after being blacklisted by the US for allegedly facilitating Iranian oil trade, underscoring the far-reaching impact of US sanctions on Chinese companies operating in global energy markets

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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