China to continue Iran trade despite new US sanctions
China yesterday denounced the new US sanctions targeting Iran's oil and financial sectors as "long-arm jurisdiction" and vowed to continue its bilateral trade with the Islamic republic. The measures, which took effect yesterday, follow US President Donald Trump's decision to abandon a multi-nation nuclear deal with Tehran, which he said was flawed and does not adequately constrain Iran's destabilizing behavior in the Middle East.
US exempts India from Iran sanctions to avoid disrupting economy
The new sanctions aim to significantly cut Iran's oil exports, which have already fallen by around one million barrels a day since May and cut it off from international finance. The US has, however, given temporary exemptions to eight countries, including India, Japan, and Turkey, to continue buying oil in a bid to avoid disrupting their economies and also global markets.
Our cooperation with Tehran within international law framework: China
Asked whether China was granted an exemption, Foreign Ministry Spokeswoman Hua Chunying said Beijing is conducting "normal cooperation" with Tehran within the framework of international law. However, "China opposes unilateral sanctions and long-arm jurisdiction," Hua said. China is a signatory to the 2015 Joint Comprehensive Plan of Action (JCPA), which includes Britain, France, Germany, and Russia, that Trump pulled out from earlier this year.
JCPA members believe agreement keeping Iran from obtaining nuclear weapons
The remaining JCPA members believe the agreement is indeed keeping Iran from obtaining nuclear weapons for now. "Under the current circumstances, we hope all parties can bear in mind the larger picture and fulfill their duties and choose to stand on the right side of history," Hua said, adding that China will continue to "uphold the objective and responsible attitude to uphold the agreement."Share this timeline