China cut Iran oil import as sanctions mount

[kawaraj]

just some somber thought.

Iran and China need to work out a special deal for the situation, considering the strategic partnership.

Iran can not take China's trade among west sanctions for granted, Chinese firms(banks) are losing lots of interest being trading with Iran. I don't think 60 days or 90 days really matters that much. If your jingoism against the west slowing apply to China, the long term supporter of Iran, that's something wrong.

On the other hand, China need to stand straight to support Iran, continue trading with Iran would be the most effective way to support Iran. Payment term is not that a big deal. Personally I think trading in Yuan is even better than barter cargoes or through dollers. China as of today pretty much produce everything. Taking Yuan payment means you receive notes that can buy all merchandise directly or indirectly.

 

[Bobshouse]

So, what is your point, Mr.Aussie?

Dont post BS and expect other people not to question it.

 

[unicorn]

China rejects linking trade and Iranian nukes ahead of Geithner visit to lobby for sanctions

BEIJING — A top Chinese diplomat on Monday rejected linking Iran’s nuclear program to trade, adding to tensions with Washington on the eve of a visit by U.S. Treasury Secretary Timothy Geithner to seek support for sanctions on Tehran’s oil industry.

A deputy foreign minister, Cui Tiankai, said China’s trade with Iran, an important oil supplier, has nothing to do with the Iranian nuclear program.

Washington is pressuring Tehran to abandon what Western governments say is an effort to develop nuclear weapons. Sanctions approved by President Barack Obama on New Year’s Eve would bar financial institutions that deal with Iran’s central bank from the U.S. market.

“The normal trade relations and energy cooperation between China and Iran have nothing to do with the nuclear issue,” Cui told reporters. “We should not mix issues with different natures, and China’s legitimate concerns and demands should be respected.”

China’s fast-growing economy is the world’s biggest energy consumer and obtained about 11 percent of its oil imports from Iran last year. Industry analysts say Beijing is unlikely to support an oil embargo against Iran because such huge imports would be next to impossible to obtain from other sources.

The sanctions have led to a clash of interests between Washington and key commercial and strategic partners in Asia.

South Korea and Japan also depend on Iranian oil and are negotiating with Washington in an effort to keep supplies flowing. South Korea obtains up to 10 percent of its oil from Iran, while Japan gets nearly 9 percent.

The dispute threatens to add to irritants in U.S.-Chinese ties, which are strained by disputes over market access and pressure on Beijing to ease currency controls that Washington complains are swelling its trade surplus.

Cui, one of the top officials in charge of relations with Washington, said Beijing supports nuclear nonproliferation efforts but believes Iran is entitled to develop peaceful atomic energy.

He rejected suggestions that anyone who does business with Iran is providing money for nuclear programs.

“According to this logic, if the Iranians have enough money to feed their population, then they have the ability to develop nuclear programs. If that is the case, should we also deny Iran the opportunity to feed its population?” he said.

“We believe the livelihood of the Iranian people and the normal economic ties between countries in the world and Iran should not be affected.”

Chinese purchases of Iranian crude averaged about 560,000 barrels per day in 2011, rising to 617,000 barrels in November, close to one-third of Iran’s total exports of 2.2 million barrels per day, according to oil industry analysts Argus Media.

China rejects linking trade and Iranian nukes ahead of Geithner visit to lobby for sanctions - The Washington Post

 

[FairAndUnbiased]

Lots of our red hatted friends here have lots of hate for Sinopec "execs" Do they understand Sinopec is a state controlled company and the notion of these "execs" having foreign relations policy is ludicrous. Its the central government making the decisions here not Sinopec execs. I guess critising the government of China can land you in a lot of trouble, so yeah lets just call them "execs"

The Roman legions were also "commanded by the emperor". Didn't stop some emperor's heads from rolling.

Do you really think the government can micromanage a gas station? How about 1 million gas stations?

Last I checked, there were 50000 protests in China every year. If everyone that participated is put in prison, a lower bound of all in prison for the past 10 years is 500000 people for protesting alone.

But it's not China that has the world's biggest prison population, is it?

 

[SinoChallenger]

Dont post BS and expect other people not to question it.

You mean like Chinese communists wear our characteristic "red hats"?

I always knew Santa Claus was one of us. Striking resemblence to Mao Zedong.