Shandong Ports Ban On U.S.-Sanctioned Ships Could Disrupt China’s Oil Imports

China’s Foreign Ministry said that it is not aware of Shandong Port Group’s (SPG) decision to ban U.S.-sanctioned ships from docking at its terminals.

SPG manages major ports on China’s east coast, including Rizhao, Qingdao, and Yantai. These ports are essential for importing oil, especially from Iran, Russia, and Venezuela, countries under U.S. sanctions.

Last year, almost 20% of China’s total oil imports came from these sanctioned countries.

If the ban is enforced, traders say it could increase shipping costs