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).
http://news.yahoo.com/china-detains-gangs-accused-smuggling-440-000-tonnes-102610250.html
Related Posts
Fake branded garments worth over Rs 43 lakh seized in Bolangir, 1 arrested
Most of the youngsters these days prefer clothes of branded companies. This has...
Customs nab two Sri Lankans smuggling illegal cigarettes worth Rs. 3.5 million
Colombo: Sri Lanka Customs officials have arrested two Sri Lankan passengers at...
Man arrested at Beitbridge border for allegedly smuggling illicit cigarettes worth R21m into SA
A 47-year-old Zimbabwean national has appeared in court after he was allegedly...
EC seizes 7.79L litre liquor in dry Bihar
The enforcement agencies are making headlines in Mumbai for going after Bollywood...