China Says Business Ties with Iran No Breach of UNSC Resolutions

TEHRAN (Tasnim) – China’s business and energy ties with Iran do not harm the interests of any other country, the country’s Foreign Ministry said, after US President Donald Trump said companies doing business with Iran would be barred from the United States.

China Says Business Ties with Iran No Breach of UNSC Resolutions

China has already defended its commercial relations with Iran as open and transparent as US sanctions on Iran took effect despite pleas from Washington’s allies.

In a statement released late on Friday, China’s foreign ministry reiterated its opposition to unilateral sanctions and “long-armed jurisdiction”.

“For a long time, China and Iran have had open, transparent and normal commercial cooperation in the fields of business, trade and energy, which is reasonable, fair and lawful,” it said, Reuters reported.

“This does not violate United Nations Security Council resolutions or China’s promised international obligations, nor does it harm the interests of any other country, and should be respected and protected,” the ministry added.

Using sanctions at the slightest pretext or to threaten anyone won’t resolve the problem, it said.

“Only dialogue and negotiations are the true path to resolving the issue,” the ministry added.

China, Iran’s top oil customer, buys roughly 650,000 barrels a day of crude oil from Tehran, or 7 percent of China’s total crude oil imports. At current market rates, the imports are worth some $15 billion a year.

The United States reimposed stiff economic sanctions on Iran on Monday, ratcheting up pressure on the Islamic Republic despite statements of deep dismay from European allies, three months after Trump pulled the US out of the 2015 nuclear deal between Tehran and world powers.

A first set of reimposed US sanctions affect financial transactions that involve US dollars, Iran's automotive sector, the purchase of commercial planes and metals including gold.

A second batch of US sanctions targeting Iran's oil sector and central bank are to be reimposed in early November.

Trump warned that those who don't wind down their economic ties to Iran "risk severe consequences."

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