Saturday, January 14, 2012

'Sanctions won't hinder Iran-China trade'

Chinese Foreign Ministry spokesman Liu Weimin (file photo)

Source: Press TV

China has once again condemned the United States' unilateral sanctions imposed on the Islamic Republic of Iran, saying the US is seeking to internationalize its unilateral sanctions.

On Saturday, the Chinese Foreign Ministry says Beijing will maintain its normal cooperation with Tehran in the areas of energy and trade.

The Chinese Foreign Ministry made the announcement in response to Washington's decision to impose sanctions on a Chinese company for trading with Iranian firms.

Zheng Mei, a representative of the Zhuhai Zhenrong company, told the Legal Mirror newspaper, “The sanctions don't make any difference to our company's business.”

On Wednesday, Chinese Foreign Ministry spokesman Liu Weimin said at a press briefing that Beijing will maintain its trade ties with the Islamic Republic despite efforts by US Treasury Secretary Timothy Geithner to convince Beijing to join an embargo of Iranian oil.

Liu added that China, as “a major developing country,” would continue importing Iranian oil to meet its “reasonable demand for energy.”

“We have repeatedly stated that China has normal and transparent energy cooperation with Iran, and that does not violate Security Council resolutions,” the Chinese spokesman noted.

Iran exported about 622,000 barrels of oil per day to China in November 2011, maintaining its place as the third largest crude supplier to the East Asian country.

The United States recently announced plans to attempt to impose a worldwide boycott on the Central Bank of Iran over the country's nuclear program in an apparent effort to punish foreign companies and banks that conduct business with the Iranian financial institution.

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