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According to three people familiar with the situation on Thursday, China International United Petrochemical Corporation (UNIPEC) is resale some US crude oil originally sold to China to buyers in India and South Korea. Beijing has begun imposing tariffs on US crude oil due to escalating trade tensions between China and the United States.
Unified Petrochemical, a trading company of Sinopec (600028.SS), Asia's largest refiner, is China's major importer of American crude oil. However, after Beijing imposed a 5% tariff on American crude oil on September 1, its imports were affected.

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