The Jimmy Dore Show In a surprise move, China has activated its 2021 blocking statute for the first time, ordering all Chinese firms and individuals not to comply with US sanctions on five Chinese oil refineries accused of buying Iranian crude, declaring that the US sanctions "shall not be recognized, shall not be enforced, and shall not be complied with.” China reportedly took this action in direct retaliation for the US ramping up enforcement under "Operation Economic Fury." Jimmy Dore notes that this is the "financial equivalent" of China pushing back against US extraterritorial sanctions, putting global banks in a "no-win" position where complying with US sanctions risks violating Chinese law and vice versa, and potentially leading to a "direct financial confrontation between the two largest economies on Earth." He argues that this Iran war "could not be going worse" for the United States because Russia has already announced ...
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