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Trump Discussed Sanctioned Chinese Oil Refiners With Xi, Considering Lifting Bans

Business & Policy
May 15, 2026

U.S. President Trump visits China — Chinese President Xi Jinping and U.S. President Donald Trump attend a meeting on the sidelines of their visit to the Zhongnanhai Garden in Beijing, China, May 15, 2026. REUTERS/Evan Vucci

(Reuters) – President Donald Trump said on Friday he ‌discussed Chinese oil companies that have been sanctioned for buying Iranian oil and will make a decision about whether ⁠to lift bans in the next few days.

The U.S. recently imposed sanctions on several Chinese oil refiners for buying Iranian oil, including Hengli Petrochemical, one of the country’s largest private refiners and ‌a symbol ⁠of Beijing’s drive to modernize and upgrade the industry.

“We talked about that and I’m going to make ⁠a decision over the next few days,” he told reporters aboard Air ⁠Force One shortly after leaving Beijing following his two-day ⁠summit with President Xi Jinping.

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Reporting by Trevor Hunnicutt aboard Air Force One; Editing by Toby Chopra