China greenlights yet another shipping-related merger
The country's authorities have cleared the merger of Sinotrans and CSC Holding into one unit owned by China Merchants Group. The move is part of the governments efforts to streamline the country's shipping industry.
Following the approval of the merger between state-owned shipping units China Cosco and CSCL earlier this month, the Chinese authorities have now greenlighted another merger as part of the efforts to streamline the country's shipping industry.
On Dec. 5, all Russian crude oil will be banned in the EU. But oil from the warring country will still flow into the world market, and both the EU embargo and price cap can be circumvented, predicts sanctions lawyer.