China's commerce ministry has issued an injunction stating it will not recognize or comply with US sanctions targeting Chinese companies importing oil from Iran. The move comes after Washington increased pressure on independent refineries purchasing discounted Iranian crude, aiming to cut off revenue to Tehran. China maintains its opposition to unilateral sanctions not authorized by the UN.
Add CNA as a trusted source to help Google better understand and surface our content in search results. China is a key customer for Iran ian oil, mainly through independent"teapot" refineries that rely on discounted crude from the Islamic Republic.
The United States, seeking to choke off revenue to Tehran, has ramped up sanctions on such refineries. The commerce ministry's injunction, relating to sanctions announced separately since last year, states that the US measures"shall not be recognised, implemented, or complied with". The sanctions"improperly prohibit or restrict Chinese enterprises from conducting normal economic, trade and related activities with third countries ... and violate international law and the basic norms governing international relations," the ministry said in a statement.
"The Chinese government has consistently opposed unilateral sanctions lacking UN authorisation and a basis in international law. " The injunction applies to three companies in Shandong province - Shandong Jincheng Petrochemical Group, Shandong Shouguang Luqing Petrochemical and Shandong Shengxing Chemical - and two others based elsewhere in China, Hengli Petrochemical Refinery and Hebei Xinhai Chemical Group.
Washington imposed on Friday sanctions on yet another Chinese firm which it said had imported"tens of millions of barrels" of Iranian crude oil, generating billions of dollars in revenue for Tehran.locked in a diplomatic standstillSubscribe to our Chief Editor’s Week in ReviewWe know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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