tirsdag 23. april 2019

China buys a lot of Iranian oil, and it's not happy at all with US sanctions

China is pushing back against the United States' decision to broaden its crackdown on Iranian oil exports, deepening the uncertainty in the global oil market. Beijing on Monday slammed the Trump administration's announcement that it would stop exempting several countries from its sanctions on buying oil from Iran. China is one of the world's biggest importers of Iranian oil, along with India.

"China opposes the unilateral sanctions and so-called 'long-arm jurisdictions' imposed by the US," Chinese foreign ministry spokesperson Geng Shuang said during a press briefing Monday. "Our cooperation with Iran is open, transparent, lawful and legitimate, thus it should be respected," he added. The sanction waivers were granted to China and seven other countries last year. They are set to expire May 2.