Shandong Yulong Petrochemical, China’s newest refinery, has swiftly become a potent emblem for the unintended effects of Western sanctions. Barely a year after its launch, the 400,000 b/d complex in Shandong province has purchased around 350,000 b/d of Russian crude for November delivery, effectively running almost entirely on discounted Russian oil after losing access to Western supplies following sanctions by the UK and EU. Its rise illustrates how punitive measures meant to isolate Moscow have instead bound together sanctioned Russian…