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Page added on June 12, 2012

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China Tells U.S. What It Can Do With Its Iran Oil Import Sanctions

China Tells U.S. What It Can Do With Its Iran Oil Import Sanctions thumbnail

While the US magnanimously decided to exempt several nations from U.S. sanctions on Iranian oil imports, it appears the Chinese government has indicated it has no plans to change its position on oil purchases from Iran. As Voice of America reports, China’s FinMin spokesman Liu Weimin said the purchases are necessary, because of its economic development, describing their ‘purchase channels’ as ‘completely legal’ and ‘normal, open, and transparent’. China is the world’s largest buyer of Iranian oil and is the last remaining major importer exposed to possible penalties when the U.S. sanctions are imposed, likely later this month. When asked if China and the United States are still in discussion about the sanctions, the spokesman would only say that Beijing has clearly informed Washington of its position. China’s purchases of oil from Iran declined earlier this year, but analysts say the cutback was the result of a price dispute. Purchases went back up in April and have continued. Raise to you Hillary.

ZeroHedge



4 Comments on "China Tells U.S. What It Can Do With Its Iran Oil Import Sanctions"

  1. DC on Tue, 12th Jun 2012 11:29 pm 

    Q\ because of its economic development, describing their ‘purchase channels’ as ‘completely legal’ and ‘normal, open, and transpare

    Exactly. China, nor any other nation is required to ‘abide’ by US sanctions under any cirmcumstances. The US has no legal authority to impose anything on anyone, much less ‘penalize’ them for doing so. Iran is not selling Anti-matter bombs or over-the-counter weaponized anthrax here, just oil. Im still waiting for nations of the world to tell amerika to stick its sanctions, its IMF, WB and BiS where the sun dont shine.

    Iran has done nothing wrong, I can see this and im not even particularly fond of Iran or its prmitive religion, but anyone can there being setup here for no reason other than they want out from under the empires control. Power to them.

  2. BillT on Wed, 13th Jun 2012 1:29 am 

    The Empire has been firing many shots into it’s own foot lately and is losing it’s allies right and left. Mainly, they are becoming too poor to supply support. It is also encouraging the rest of the world to set up systems to go around it’s blockades, further reducing it’s power. I hope it happens soon before it pulls the ‘tactical nukes’ out and uses them. Then it would be ‘game over’ for the world.

  3. Ham on Wed, 13th Jun 2012 10:48 am 

    La Clinton tells Russia to stop selling arms to Syria, neglecting to mention Saudi shipments of weapons to so called ‘Freedom fighters’, in reality a resurgence of Mujaheddin. The Great Game mark II. America needs to accept it cannot control the World now, it is multipolar. The financial boondoggle of ever more growth has failed. China has decided quite legitimately that it wants some of the diminishing pie.

  4. Charlie Bucket on Wed, 13th Jun 2012 1:09 pm 

    That picture is awesome! Looks like Butterbean (great metaphor for the US) is about to get rocked!