All tagged China

Iran Turns to Asian Allies to Seek Relief from US Sanctions

◢ Iranian foreign minister Mohammad Javad Zarif kicked off his Asian tour in Beijing Monday, presenting a 25-year plan to cement Iran's ties with its biggest Asian trading partner amid biting US sanctions. Zarif's Asian tour—which also includes stopovers in Japan and Malaysia—comes fresh on the heels of a surprise visit to the G7 summit in France over the weekend.

Bolton to Press Britain's Johnson on Iran

◢ US National Security Advisor John Bolton was Monday to sound out British Prime Minister Boris Johnson on global disputes that include an escalating Gulf standoff with Iran. The hawkish White House aide is the most senior US official to meet Johnson since he succeeded Theresa May as UK government leader last month.

US Sanctions on Chinese Oil Trader 'Illegal': Beijing

◢ China on Tuesday called US sanctions against Chinese companies "illegal", a day after US Secretary of State Mike Pompeo announced he was putting a leading oil importer on a blacklist. Pompeo said Monday that the US was imposing sanctions on Zhuhai Zhenrong and its chief executive Li Youmin as part of a "maximum pressure campaign" for trading in Iranian crude oil.

US Sanctions Chinese Oil trader for Violating Iran Restrictions: Pompeo

◢ The United States is placing a leading Chinese oil importer on its sanctions blacklist for trading in Iranian crude, Secretary of State Mike Pompeo announced Monday. "As part of that maximum pressure campaign, I am announcing that the United States is imposing sanctions on the Chinese entity Zhuhai Zhenrong and its chief executive Youmin Li, Pompeo said in a speech.

Iran Announces Visa Waiver for Chinese Tourists

◢ Iran will no longer require Chinese visitors to obtain visas, state media reported Sunday, as the sanctions-hit country attempts to boost tourism in the face of an economic crisis. "The cabinet has agreed to waive visa requirements for Chinese nationals entering the Islamic Republic of Iran," state news agency IRNA said.

China Is Buying Iranian LPG Despite Sanctions, Ship-Tracking Shows

◢ After being hit by the trade war and U.S. sanctions on Iran, some Chinese buyers of liquefied petroleum gas from the Persian Gulf nation are finding it’s too tough a habit to kick. China probably isn’t complying with U.S. sanctions on Iranian crude, U.S. Deputy Energy Secretary Dan Brouillette said Friday, adding that he didn’t have any hard evidence to show this.

China Warns US Against Opening Mideast 'Pandora's Box'

◢ China on Tuesday warned against opening a "Pandora's box" in the Middle East after the United States announced the deployment of 1,000 additional troops to the region amid escalating tensions with Iran. Foreign Minister Wang Yi also urged Tehran to not abandon the nuclear agreement "so easily" after Iran said it would exceed its uranium stockpile limit if world powers fail to fulfill their commitments under the agreement in 10 days.

Hong Kong Rejects U.S. Warning on Ship Breaching Iran Sanctions

◢ Hong Kong dismissed U.S. warnings that it could face penalties if it it does business with an oil tanker headed for the city that allegedly violated sanctions on Iran. The city’s government has “strictly” implemented United Nations Security Council sanctions, which don’t impose “any restrictions on the export of petroleum from Iran,” a spokesperson for Hong Kong’s Commerce and Economic Development Bureau said on Wednesday.

Iran Urges China, Russia 'Concrete Actions' to Save Nuclear Deal

◢ Iranian Foreign Minister Mohammad Javad Zarif on Friday urged China and Russia to take "concrete actions" to safeguard the 2015 nuclear deal as he warned of a "dangerous" situation amid escalating tensions with the US. China was one of the eight global buyers—India, Turkey, Japan, South Korea, Taiwan, Italy and Greece—that was allowed to import Iranian crude oil before the US ended waivers in early May.

Ending Sanctions Waiver Will Anger US Allies: Iran FM

◢ The US decision to end sanctions waivers for purchases of Iranian oil later this week will backfire by angering Washington's allies, Tehran's Foreign Minister Mohammad Javad Zarif said Sunday. Zarif said US policy is designed to make life hard for the Iranian people so they will "take action" against the Tehran government.

US Slaps 13 Charges on Huawei, Executive Over Iran Sanctions Violations

◢ The US Justice Department on Monday unveiled sweeping charges against Chinese telecommunications giant Huawei in two cases likely to ratchet up tensions between the two superpowers—including that of a top executive arrested in Canada on a US warrant. Meng’s case has sparked a major crisis between Beijing and Ottawa, which is accused of doing Washington’s bidding.

Huawei Exec Faces US Fraud Charges Linked to Iran, Court Hears

◢ Chinese telecom giant Huawei's chief financial officer faces US fraud charges related to sanctions-breaking business dealings with Iran. Meng Wanzhou was arrested in Canada's Pacific coast city of Vancouver on December 1 while changing planes during a trip from Hong Kong to Mexico—ratcheting tensions between the United States and China just as the countries' leaders agreed a truce in their trade war.

US to Exempt China, India, Japan from Iran Oil Sanctions: Pompeo

◢ The United States will exempt China, India and Japan from oil sanctions on Iran, Secretary of State Mike Pompeo said Monday, while vowing to be "relentless" in pressuring Tehran. Hours after sweeping sanctions were reimposed following the US withdrawal from a denuclearization deal, Pompeo said eight countries would be at least temporarily exempt from the ban on buying Iranian oil due to special circumstances or so as not to disrupt energy markets.

US Eyes Limited Waivers for Iran Crude Buyers

◢ The US administration likely will enable some countries to continue importing oil from Iran in the short term, despite Washington's maximum pressure campaign against Tehran, White House national security adviser John Bolton said today. The State Department is expected to provide such exemptions before the full brunt of US sanctions pressure begins on 5 November, even though the scope of waivers is yet undetermined.

Sinopec Persists With Iran Refinery Upgrade

◢ China's state-controlled Sinopec is pressing ahead with a USD 1.06bn upgrade project at Iran's 400,000 b/d Abadan refinery, despite the imminent return of US sanctions on Iran's energy sector. Its commitment will come as some relief for Tehran ahead of the 4 November re-imposition of US sanctions on its energy sector.

Iran's Options to Face Down US Oil Sanctions

◢ Iran faces a potentially crushing loss of oil exports when US sanctions return in November, but the impact could be blunted by its experience of working around embargoes. When Iran faced its toughest international sanctions between 2012 and 2015, analysts say it found a number of creative solutions, from repainting and renaming ships to switching off their tracking devices.

Iran Offers Discount Oil to Asia

◢ Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday. The "informed source" in Iran's oil ministry did not give details of the discount, but sought to downplay the move as common industry practice. "Discount is part of the nature of the global markets being offered by all oil exporters," the source told IRNA.

China to To Host Iran Leader Amid Nuclear Deal Upheaval

◢ Iran's president will attend a summit with his Chinese and Russian counterparts next month, officials in Beijing said Monday, as they try to salvage the nuclear deal thrown into upheaval by Donald Trump. China, Russia and European powers, all of which signed the 2015 Iran nuclear accord, are scrambling to save the pact following the US president's decision to quit the agreement and reinstate sanctions.

Merkel, Chinese Premier Defend Iran Deal, Free Trade

◢ German Chancellor Angela Merkel and Chinese Premier Li Keqiang defended the Iran nuclear deal on Thursday, with Li hinting that terminating the pact would complicate negotiations with North Korea. Merkel and Li showed a united front on Iran and free trade—two issues that have seen high-profile interventions by US President Donald Trump—during their meeting at the opulent Great Hall of the People in Beijing.