Chinese oil companies China National Petroleum Corp. (CNPC) and China Petrochemical Corp. is cutting some of its oil trade with Iran, The Wall Street Journal reported.
CNPC-owned Bank of Kunlun has told its Iranian customers it will stop doing business with them by the sanctions deadline on November 4.
China has been importing from Bank of Kunlun about 600,000 barrels of Iranian oil a day. CNPC didn’t respond to requests for comment.
According to WSJ, China has discussed the cut of Iranian oil supplies to the country.
