---
title: "CN Reportedly Asks Major Banks to Review Risk Exposure and Biz Dealings with Hengli Petrochemical (Dalian), 4 Other Firms"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285477819.md"
description: "China has instructed major banks to pause new RMB loans to five refining companies, including Hengli Petrochemical (Dalian), recently sanctioned by the US. This measure aims to assess risk exposure and business dealings with these firms while awaiting further guidance. The US Treasury imposed sanctions on these companies for allegedly aiding Iran in oil sales, prompting China's Ministry of Commerce to ban compliance with these sanctions."
datetime: "2026-05-07T03:18:58.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285477819.md)
  - [en](https://longbridge.com/en/news/285477819.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285477819.md)
generator: "portal-rs"
---

# CN Reportedly Asks Major Banks to Review Risk Exposure and Biz Dealings with Hengli Petrochemical (Dalian), 4 Other Firms

China has advised several major banks to temporarily suspend the issuance of new RMB loans to five refining companies recently sanctioned by the US and to hold off on calling in existing loans, in order to review their risk exposure and business dealings with the relevant companies, while awaiting further instructions, Bloomberg reported, quoting people familiar with the matter.

Last month, the US Department of the Treasury imposed sanctions on several enterprises, including private Chinese petrochemical giant Hengli Petrochemical (Dalian), for allegedly assisting Iran in selling oil. 

Subsequently, China's Ministry of Commerce formally issued a ban requiring that no individual or entity shall implement, recognize or comply with the US sanctions against the five Chinese companies concerned.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**