Skip to main content

China rejects US request to cut Iran oil imports

By



China has rejected a US demand to cut Iranian oil imports despite Washington’s attempts to bring down the Islamic Republic's oil sales to zero, Bloomberg reports.

Bejing-The financial news provider quoted informed officials on Friday as saying that the US had been unable to persuade China to cut Iranian oil imports and that Beijing's purchases from Tehran last month remained unchanged. 

This is a blow to US President Donald Trump’s efforts to isolate Iran after his withdrawal from a 2015 nuclear deal with the country, officially known as the Joint Comprehensive Plan of Action (JCPOA), they said. 

Beijing, however, agreed not to increase purchases of Iranian crude, said the officials who spoke on condition of anonymity.

Trump unilaterally withdrew the US from the multilateral deal with Iran in May and announced plans to reimpose sanctions on the Islamic Republic, that would eliminate Tehran's oil revenues. 

China - the world’s top crude buyer and Iran’s No. 1 customer - has said previously that it opposed unilateral sanctions and lifted monthly oil imports from the country by 26 percent in July.

It accounted for 35 percent the Iranian exports last month, according to ship-tracking data compiled by Bloomberg.

Tehran has said if it cannot sell its oil, other regional countries would not be able to do so neither, triggering speculation that Tehran may block the Strait of Hormuz, through which many international oil cargoes pass.




India's Iranian oil imports up

India, the second purchaser of Iranian crude, also increased its imports from Iran last month.

Preliminary tanker arrival data cited by Reuters on Thursday showed that the Asian country increased purchases of Iranian crude by about 30 percent to a record 768,000 barrels per day (bpd) as state refiners' intake surged ahead of US sanctions in November.

India’s July purchases of Iran’s oil were about 85 percent higher in comparison to the shipments of about 415,000 bpd a year earlier, the news agency said.

State refiners accounted for about four-fifth of Iranian crude sales in July with Indian Oil Corp along with its unit Chennai Petroleum Corp getting about 300,000 bpd oil from Tehran, the preliminary data showed.

US officials have softened their stance after initially saying they would press allies in Europe, Asia and the Middle East to adhere to the sanctions and reduce their imports to zero. US Secretary of State Mike Pompeo said last month his country was open to consider waivers for certain buyers of Iranian oil.
Labels:

Comments

Post a Comment

Popular posts from this blog

Curfew imposed in wana after ‘Taliban’ attack PTM,s Leaders

By
10 PTM activists, including Wazir’s cousin, injured in the attack PakistanToday : At least 10 people were injured and two suspected Taliban militants were killed in an attack on activists of Pashtun Tahafuz Movement (PTM), including Ali Wazir and his cousin, in Wana, leading to curfew being imposed in the area. The injured were shifted to Agency Headquarter Hospital Wana for medical treatment where they were declared to be out of danger. According to reports, differences between the two parties developed on Saturday when pro-government militant leader Ain Ullah Wazir forcefully snatched caps from PTM activists and set them on fire. Following the incident, Ali Wazir had condemned the act and called for a sit-in protest from Monday. The militants retaliated and attacked the Mirzalam Khan Wazir Market and the nearby petrol pump, owned by Ali Wazir. However, before the attack, they went to Ali Wazir’s home, armed with guns, and asked him to leave the area of quit PTM....
Post a Comment
Read more

Russia's says Syria chemical weapons attack was free Plane

By
Monitor Desk: The U.S. has blood and urine samples from the area the U.S. has blood and urine samples from the area that have tested positive for chemical weapons, according to two American officials.at have tested positive for chemical weapons, according to two American officials. Russia said Friday it had “irrefutable” evidence that the deadly Syria chemical weapons attack that has prompted the U.S. to consider airstrikes was fabricated. Foreign Minister Sergey Lavrov told a news conference that there was a “very alarming atmosphere” over the issue and likened plans for a military response to failed action in Libya. “God forbid any other military gambles will be taken in Syria,” he said. Related Lavrov cited "irrefutable data that [this] was yet another staged event and staging was done … by the special services of one of the countries at the forefront of the anti-Russia campaign." His comments come after President Donald Trump called last Saturday’s attack...
Post a Comment
Read more

Hashim Bakht PTI nominee for Punjab CM

By
Makhdoom Hashim Jawan Bakht Pakistan Tehreek-i-Insaf (PTI) is likely to nominate its elected member of Punjab assembly from southern Punjab Makhdoom Hashim Jawan Bakht — the younger brother of Makhdoom Khusro Bakhtiar — as Punjab chief minister, Morning Mail report. Hashim Bakht is foreign graduate and younger brother of Makhdoom Khusro Bakhtiar, their father has also remained member National Assembly. However, PTI chairman Imran Khan will make the announcement in this regard later. The sources said that Makhdoom Hashim is a strong candidate for the post of chief minister Punjab and he has acquired the support of the majority of senior leaders in the PTI. Khsro Bakhtyar Elder Brother Of Hashim Bakht Hashim Jawan is the younger brother of Makhdoom Khusro Bakhtiar and he was elected from Rahim Yar Khan. Jahan has worked in the banking sector and he was vice president of the corporate sector of the City Bank. Jawan did his B.Com from McGill Universi...
1 comment
Read more