LATEST: China sweeps away US sanctions on Iranian oil purchases
According to recent reports, the following story has emerged from the international scene.
Beijing does not intend to have its conduct dictated by Donald Trump. The Chinese government announced on Saturday that it would not comply with sanctions taken by the United States against five Chinese companies accused of buying Iranian oil, of which China is a large importer. In recent months, in an attempt to dry up Iran’s sources of income, Washington has strengthened sanctions against Chinese oil refineries which obtain crude at reduced prices from the Islamic Republic. The Chinese Ministry of Commerce, in an injunction relating to the sanctions announced separately since last year, considers that these measures “must neither be recognized, nor implemented, nor respected”. China highlights international law In a press release, the ministry argues in this regard that these “prohibit or unduly restrict the normal economic, commercial and related activities of Chinese companies with third countries […] and violate international law and fundamental norms governing international relations.” “The Chinese government has always opposed unilateral sanctions without UN authorization and basis in international law.” This injunction applies to three companies in Shandong province – Shandong Jincheng Petrochemical Group, Shandong Shouguang Luqing Petrochemical and Shandong Shengxing Chemical – and to two others headquartered elsewhere in China, Hengli Petrochemical (Dalian) Refinery and Hebei Xinhai Chemical Group. ChinaOn Friday, Washington imposed sanctions on another Chinese company, accusing it of importing “tens of millions of barrels” of Iranian crude oil, generating billions of dollars in revenue for the Islamic Republic. This company, Qingdao Haiye Oil Terminal Co., Ltd. is however not mentioned in the injunction from the Ministry of Commerce.Our file on the War in the Middle EastThese new sanctions come at a time when the United States and Iran are in a diplomatic impasse concerning the conflict which has opposed them since the American-Israeli strikes at the end of February. Donald Trump is also due to travel to China this month to meet with his Chinese counterpart Xi Jinping.
What This Means:
This report highlights significant developments in the international landscape that could reshape diplomatic relations in the coming weeks.
This is part of a broader trend that has been reshaping the geopolitical landscape in recent months.
Stay tuned for more updates as this story continues to unfold.
Source: This article was originally published in another language by 20Minutes – Actu Monde and has been translated and adapted for our global English-speaking audience. Read the original article here.