China Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
FILE PHOTO: An employee walks past oil tanks at a Sinopec refinery in Wuhan, Hubei province April 25, 2012. REUTERS/Stringer/File Photo
The United States has decided not to renew any exemptions for sanctions on Iran, taking a tougher line than expected on the expiry of the waivers. The waivers were granted last November to buyers of Iranian oil. Two of the sources said Sinopec and CNPC have skipped bookings for cargoes loading in May as companies were worried that taking oil from Iran could invoke U.S. sanctions and cut them out of the global financial system.
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