For the first time since introducing the Blocking Rules five years ago, China has officially activated them against US sanctions targeting Chinese refineries. Although this is a case-specific application of the rules, it also presages a broader strategic shift in the trade landscape.
Recent weeks have brought game-changing developments for companies working with China. While larger firms are feeling the immediate impact, smaller businesses cannot ignore these shifts, as the effects will inevitably spread through the market.
Any entity operating between China and the US now finds itself caught in a legal pincer: complying with the laws of one sovereign may effectively violate the laws of the other.
