China detains gangs accused of smuggling 440,000 tonnes of oil

Chinese customs have detained members of two gangs involved in smuggling in 440,000 tonnes of fuel using retooled fishing boats or vessels done up to look like boats that carry out cleaning work on oil tankers, authorities said on Monday.

Fuel smuggling has picked up since late last year after China raised consumption taxes sharply on a variety of oil products from diesel to fuel oil, widening the margins between domestic oil prices and supplies that evade the levies, traders have said.

The arrests were made earlier this month when authorities detained more than 250 suspects from two gangs who had attempted to smuggle in fuel worth approximately 2.2 billion yuan ($355 million) in seven coastal provinces, according to a statement on the Chinese Customs Administration website (www.customs.gov.cn).

 

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