"Chaotic Mess:" Global Shipping Industry Rattled By US Sanctions On China Tanker Firms  | WHAT REALLY HAPPENED

"Chaotic Mess:" Global Shipping Industry Rattled By US Sanctions On China Tanker Firms 

The global shipping industry was thrown a curveball on Wednesday when the U.S. imposed fresh sanctions on Chinese entities and people who it accuses of deliberately purchasing oil from Iran in violation of Washington's sanctions against Tehran, Bloomberg reported.

The U.S. Treasury Department announced new sanctions on five Chinese nationals and six entities, including a unit of COSCO Shipping Corp., who were knowingly violating restrictions on purchasing Iranian petroleum.

"And we are telling China, and all nations: know that we will sanction every violation," Pompeo said at a conference on the sidelines of the U.N. General Assembly in NYC.

Bloomberg spoke with oil traders who canceled bookings with sanctioned entities and let provisional charters lapse as they wanted to avoid being caught up in the fight between Washington and Tehran.

Webmaster's Commentary: 

The lack of oil transport is going most probably going to drive up the price of oil intensely, at least for a limited period of time.

And the question I have here is, will the US Navy be ordered to interdict foreign ships suspected of carrying contraband cargo?!?

Because THAT, friends... is tantamount to a declaration of war.

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