US-Sanctioned Chinese Firm Helps Iran, Venezuela To Export Oil

A Chinese logistics company has become the key intermediary helping Iran and Venezuela to export their crude oil in defiance of the U.S. sanctions against the two OPEC members, multiple sources told Reuters for an exclusive report on Thursday.    China Concord Petroleum Co., Limited, also referred to as CCPC, was sanctioned by the United States at the end of September 2019, "for knowingly engaging in a significant transaction for the transport of oil from Iran," the then U.S. Secretary of State Mike Pompeo said. Under the sanctions, all…