China has reportedly asked banks to pause new loans to US-sanctioned refiners, Bloomberg reports citing sources

China's request for banks to pause new loans to US-sanctioned refiners marks a significant escalation in economic tension between the two nations.

Newsquawk StaffPublished 7 May 2026, 00:59 UTCOn the live feed at 00:39 UTC — 2 more headlines followed before this page went public

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00:58

[MARKET ANALYSIS] Crude futures muted as markets await Iran's response, expected on Thursday

00:46

China rural banks have reportedly cut its deposit rates, with further cuts expected

00:39

China has reportedly asked banks to pause new loans to US-sanctioned refiners, Bloomberg reports citing sources

00:38

PRE-MARKET TAIWANESE AND SINGAPOREAN STOCK NEWS: E.Sun reports strong Q1 earnings, UOB beat net income estimates

00:23

PBoC is expected to set USD/CNY mid-point at 6.8087 (prev. 6.8562)

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Context

This move could further strain global energy markets, especially if it affects refinery operations and supply chains, potentially leading to higher oil prices. Traders should monitor how this development impacts sentiment across commodities and associated currencies.

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