It was reported that China National Petroleum Corporation (CNPC) has suspended purchase of crude oil from Venezuela as the United States tightens sanctions against the country (Venezuela). According to the report, China National Petroleum Corporation recently cancelled plans to load Venezuelan crude oil of about five million barrels. This happened after President Donald Trump of United States threatened to freeze US assets of any person or company trying to assist the Venezuelan government. This is the first time in years that China (strong supporter of Venezuela) is refusing to purchase crude oil from Venezuela. Earlier this month (August), the United States which is trying to unseat President Nicolas Maduro of Venezuela froze the Venezuelan government assets held in the United States.
Source: Viewers Corner News.