A Chinese logistics firm has emerged as a central player in the supply of sanctioned oil from Iran and Venezuela, even after it was blacklisted by Washington two years ago for handling Iranian crude, seven sources with knowledge of the deals told Reuters. The more prominent role of China Concord Petroleum Co, also known as CCPC, and its expansion into trading with Venezuela, have not previously been reported and highlight the limitations of Washington’s system of restrictions, analysts say. The details of the deals were described to Reuters by a range of individuals including one China-based source familiar with CCPC’s operations, Iranian officials and a source at Venezuela’s state-owned oil company PDVSA. CCPC got involved in the Venezuelan oil trade this year through deals with small independent Chinese refineries known as teapots, according to monthly loading schedules, export schedules and invoices from April […]