The Ministry of Commerce announced a blocking order against the United States' sanctions on five Chinese companies related to Iranian oil.

CoinFeed reported on May 2nd that, according to Jinshi News, a spokesperson for the Ministry of Commerce stated that the Chinese government consistently opposes unilateral sanctions lacking UN authorization and a basis in international law. This ban is a concrete action to implement the "Measures for Blocking the Improper Extraterritorial Application of Foreign Laws and Measures," and does not affect China's undertaking and fulfillment of its international obligations, nor does it affect China's lawful protection of the legitimate rights and interests of foreign-invested enterprises. The Ministry of Commerce will continue to closely monitor situations involving the improper extraterritorial application of laws and measures by relevant countries. If any circumstances stipulated in the "Measures for Blocking the Improper Extraterritorial Application of Foreign Laws and Measures" exist, relevant work will be carried out in accordance with the law.