US sanctions over Iran oil will 'intensify turmoil' in Middle East: China

The White House announced it was calling an end to six-month waivers that had exempted several countries from unilateral US sanctions on Iranian oil exports

US sanctions over Iran oil will 'intensify Mideast turmoil': China
AFPPTI Beijing
1 min read Last Updated : Apr 23 2019 | 3:26 PM IST

China warned Tuesday that the US decision to impose sanctions on buyers of Iranian oil will "intensify turmoil" in the Middle East and in the international energy market.

The White House announced Monday it was calling an end to six-month waivers that had exempted several countries -- including major importer China -- from unilateral US sanctions on Iranian oil exports.

"China firmly opposes the US implementation of unilateral sanctions and its so-called long-armed jurisdiction," foreign ministry spokesman Geng Shuang said at a regular press briefing.

"The relevant move by the United States will intensify the turmoil in the Middle East and the turmoil in the international energy market."

In seeking to reduce Iran's oil exports to zero, the Trump administration is targeting the country's top revenue earner in its latest no-holds-barred move to crush the economy and scale back the clerical regime's influence.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 23 2019 | 3:10 PM IST

Next Story