Wednesday, January 20, 2021
Home Lead Story China Opposes Washington’s Decision On Iran Oil Sanctions

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.

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.

Also Read: 65% Indian Businesses Witness Rise in Online Fraud: Report

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)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Armaan Malik on Factors Threatening Our Mental Health

Singer Armaan Malik has opened up on the factors that he feels are responsible for threatening our mental health. Armaan feels that we as a...

Thane Athlete Is First To Complete The Everesting Running Challenge

An athlete from Thane has become the first Indian woman to complete the grueling Everesting Running Challenge (ERC), while a man finished it fastest,...

Techniques To Predict COVID Outcomes

Researchers have published one of the first studies using a Machine Learning (ML) technique called "federated learning" to examine electronic health records to better...

Colorectal Cancer Can Be Prevented by Tests: Study

Researchers have demonstrated that a simple, cheap test can help identify who is at risk of developing colorectal cancer, aiding early diagnosis and potentially...

Space Junk: What is it and Who Owns it?

You may think that space is just a void - an unimaginably large, empty space stretching out forever. However, while that may be true...

What is The Difference Between Srimad Bhagavad Gita and Srimad Bhagavatam? Answered!

It becomes very essential to understand and become aware of our rich cultural heritage. This also includes the knowledge about our Hindu Vedic texts...

Here’s Why You Must Consider Switching From Facebook Messenger Soon!

As the debate rages over new WhatsApp data sharing policy, another Facebook family product called Messenger does not offer any end-to-end protection and is...

“Audience Does Not Pay Heed To The Roles I Like Personally”, Says Nawazuddin Siddiqui

Critically acclaimed actor Nawazuddin Siddiqui says he loves playing dry characters that do not go overboard with emotions, even though the audience rarely roots...

Recent Comments