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China Opposes Washington’s Decision On Iran Oil Sanctions

The United States quit the deal in May 2018, and renewed U.S. sanctions have hit Iran's economy and contributed to the fall of the national currency, the rial.

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Iranian oil worker
An Iranian oil worker rides his bicycle at a Tehran oil refinery. RFERL

Beijing has lashed out at a U.S. decision to impose sanctions on countries that buy Iranian oil, warning that it will intensify turmoil in the Middle East and in the international energy market.

“China firmly opposes the U.S. implementation of unilateral sanctions and its so-called long-armed jurisdiction,” Foreign Ministry spokesman Geng Shuang said at an April 23 press briefing.

The White House announced on April 22 that the United States will not renew exemptions granted in 2018 to five buyers of Iranian oil — top customer China as well as India, Turkey, South Korea, and Japan — pressuring importers to stop buying from Tehran.

The exemptions, or waivers, allowed the five countries to buy Iranian oil without facing U.S. sanctions. The White House has said that the decision to end them is intended to bring Iran’s oil exports — a key source of revenue for the authoritarian government — to zero.

The United States has said it was working with Saudi Arabia and the United Arab Emirates, two of the largest oil exporters, to ensure the market was “adequately supplied.”

China
“China firmly opposes the U.S. implementation of unilateral sanctions and its so-called long-armed jurisdiction,” Foreign Ministry spokesman Geng Shuang said at an April 23 press briefing.
VOA

Saudi Arabia, Iran’s main regional rival, welcomed the U.S. decision to end all Iran sanctions waivers by May.

“Saudi Arabia fully supports this step…as it is necessary to force the Iranian regime to end its policy of destabilizing stability and its support and sponsorship of terrorism around the world,” Foreign Minister Ibrahim al-Assaf said on April 23.

Japan has said it expects a limited impact from the U.S. decision.

“We will closely watch international oil markets and exchange views with Japanese companies involved in crude imports and may consider taking necessary measures,” Japan’s trade and industry minister Hiroshige Seko said on April 23.

Iranian Oil Minister Bijan Zangeneh said on April 23 that the United States will not succeed in cutting the country’s oil exports to zero, telling parliament that Iran will work “with all our might…toward breaking America’s sanctions.”

A spokesman for Iran’s Foreign Ministry dismissed the U.S. decision on April 22, calling sanctions “illegal” and saying that the country “did not and does not attach any value or credibility to the waivers.”

oil refinery
The White House announced on April 22 that the United States will not renew exemptions granted in 2018 to five buyers of Iranian oil — top customer China as well as India, Turkey, South Korea, and Japan — pressuring importers to stop buying from Tehran. Pixabay

The European Union said on April 23 it “regrets” the U.S. decision, warning that it would further undermine a 2015 agreement between world powers and Iran that granted Tehran sanctions relief in exchange of restrictions on its nuclear program.

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The United States quit the deal in May 2018, and renewed U.S. sanctions have hit Iran’s economy and contributed to the fall of the national currency, the rial.

The EU will “continue to abide by [the deal] as long as Iran continues with full and effective implementation,” EU foreign policy spokeswoman Maja Kocijancic said. (RFERL)

Next Story

Huawei Dominates Chinese Smartphone Market With 39% Share, Xiaomi Slips To 5th Spot

Xiaomi with 8.1 million shipments, got 9.5 per cent slice of the pie

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Huawei
Meanwhile, in a breather to the Chinese telecom equipment and smartphone giant Huawei, the Pentagon has blocked the Commerce Department-backed ban on sales that make it harder for US-based companies to sell equipment to the handset maker. Wikimedia Commons

Telecom and smartphone giant Huawei extended its dominance in the China market in the fourth quarter of 2019 with a massive 39 per cent market share and 33.3 million unit shipments while Xiaomi slipped to fifth spot with a mere 8.1 million shipments and 9.5 per cent slice of the pie, Singapore-based market research firm Canalys has revealed.

For the calendar year 2019, Huawei had an impressive 142 million shipments in the domestic market — a 35 per cent growth over 2018.

Oppo with 65.7 million and Vivo with 62.7 million were the other two shipment leaders for the full year 2019. Xiaomi with 38.8 million and Apple with its 27.5 million completed the top-five list for 2019.

In the fourth quarter (October-December period), Oppo retained the second spot with 14 million units shipped and a 16.4 per cent market share.

Vivo grabbed the third spot with 13.1 million shipments and 15.4 per cent market share, followed by Apple at the fourth place with 10.1 million sales and 11.8 per cent market share.

Xiaomi with 8.1 million shipments, got 9.5 per cent slice of the pie. Notably, all these major original equipment manufacturers (OEMs) had significant declines compared to the Q4 2018 values. Total smartphone sales for 2019 came out to 369 million units which is a 7 per cent down on a yearly basis.

Huawei
Telecom and smartphone giant Huawei extended its dominance in the China market in the fourth quarter of 2019 with a massive 39 per cent market share and 33.3 million unit shipments while Xiaomi slipped to fifth spot with a mere 8.1 million shipments and 9.5 per cent slice of the pie, Singapore-based market research firm Canalys has revealed. Pixabay

Meanwhile, in a breather to the Chinese telecom equipment and smartphone giant Huawei, the Pentagon has blocked the Commerce Department-backed ban on sales that make it harder for US-based companies to sell equipment to the handset maker, the media has reported.

The US Department of Commerce had put Huawei on the “entity list” in May 2019, thus, preventing US firms from conducting business with the company unless they obtain a specific license, citing national security concerns with the Chinese telecommunications giant.

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The UK has also decided to let China’s Huawei continue to be used in its 5G networks but with restrictions, including banning its equipment in the network’s “sensitive parts”, like the core, and capping the presence of its kit in the network’s periphery to 35 per cent. (IANS)