New sanctions imposed against Chinese company for transporting Iranian oil

Reading Time: < 1 minute

The U.S. is imposing new sanctions against a Chinese company for transporting Iranian crude, a move that widens the U.S. campaign of pressure on the Islamic republic amid weeks of escalating tensions.

The move comes amid increased tensions between Iran and the West as well as between the United States and China, which have restarted major trade talks.

Republican U.S. President Donald Trump’s administration has stepped up its sanctions against Iran after breaking from the nuclear pact brokered between Tehran and other Western nations under the previous Democratic administration of President Barack Obama.

China’s embassy in Washington rejected Pompeo’s announcement.

“China firmly opposes the U.S. imposition of unilateral sanctions and so-called ‘long-arm jurisdiction’ on China and other countries invoking its domestic law,” a spokesperson said by email.

“We urge the U.S. to immediately correct its wrongdoing and earnestly respect other parties’ legal rights and interests.” Zhuhai Zhenrong, which specializes mainly in buying Iranian oil and is based in Beijing, was previously sanctioned in 2012 by the Obama administration over its dealings with Iran.

WSJ / Reuters

Once you're here...