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US sanctions China-based crude oil terminal operator for trading Iran oil

The US on Friday sanctioned a China-based crude oil terminal operator for importing petroleum products from Iranian entities and warned others of facing the same consequences if they paid a toll to Tehran to cross the Strait of Hormuz. "The US is taking decisive action to disrupt Iran's illicit oil trade, the Iranian regime's primary revenue streams that fund terrorism and regional destabilization," US Department of State spokesman Tommy Pigott said in a statement. Pigott said the department sanctioned multiple entities, an individual, and a vessel involved in the trade of Iranian petroleum and petroleum products. The action targets a China-based petroleum terminal operator - Qingdao Haiye Oil Terminal Co., Ltd. - that has imported tens of millions of barrels of sanctioned Iranian crude oil since February last year. The US also sanctioned Xingchun Li, a Chinese national and the president of QINGDAO HAIYE, and two vessel management companies UK-based Thriving Times International an

US lawmakers probe Chinese AI firms over exploitation, security risks

Through adversarial model distillation and the rapid global distribution of PRC-developed models, China is working to undercut US leadership, weaken trusted American alternatives

US sanctions China-based oil refinery, 40 shippers over Iranian oil

The Trump administration is placing economic sanctions on a major China-based oil refinery and roughly 40 shipping companies and tankers involved in transporting Iranian oil. The move, announced Friday and first reported by The Associated Press, makes good on the Trump administration's threat to impose secondary sanctions on companies and countries that do business with Iran. It's also part of the Republican administration's overall ramped-up campaign to cut off Iran's key source of revenue - its oil exports. Concurrently, the US this month imposed a physical blockade on the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. These sanctions come just a few weeks before President Donald Trump and China's Xi Jinping are due to meet in China. Included in Friday's sanctions is Hengli Petrochemical's facility in the port city of Dalian, which has a processing capacity of roughly 400,000 barrels of crude oil per day, making it one of the biggest ...

China boosts 'AI for Science' computing in 2 months without US chips

In early February, China started trials for its largest artificial intelligence computing cluster for scientific research

Iran war deepens China's dependence on US for niche gas amid supply shocks

Shipments of US ethane are expected to rise to an all-time high of 800,000 tons in April, which would be around 60 per cent higher than the monthly average

Howard Lutnick shuts down talk of Chinese investment in US auto industry

During recent trade talks between the US and China in Paris, both sides discussed the creation of a board of trade and also touched on the formation of a board of investment

Xi hosts slew of world leaders in Beijing as Trump fights with allies

Xi has been positioning his nation as a source of stability and bulwark of respect for international rules, against the backdrop of President Donald Trump's threat to bomb Iran

China 'happy' with 'opening' of Hormuz, won't send arms to Iran: Trump

President Donald Trump on Wednesday claimed that China has agreed not to provide weapons to Iran as reports circulate that Beijing has considered transferring arms. Trump wrote in a social media post that China is "very happy that I am permanently opening the Strait of Hormuz." He added: "They have agreed not to send weapons to Iran." He seemed to suggest the two are linked. The president had told an interviewer on Tuesday that Chinese President Xi Jinping had denied sending weapons to Iran. China's Foreign Ministry has repeatedly denied in recent days that the country is providing any form of military support to Iran.

Chinese carmakers should be kept out of US, says Ford CEO Jim Farley

Farley warned of national security risks from allowing technology-laden Chinese vehicles to navigate US roads

China denies arms supply to Iran, rejects US claims as 'ill-intended'

Foreign Ministry spokesman Guo Jiakun rejected reports that Beijing is set to supply military hardware to Tehran

Iran war diverts US attention from Asia ahead of Trump-Xi summit

In 2011, President Barack Obama declared it was time for America to leave behind the wars in Iraq and Afghanistan and "pivot" to Asia to counter the rise of China. Fifteen years later, the US finds itself still at war in the Middle East and has pulled military assets from the Asia-Pacific as it aims to eliminate the threat posed by Iran's nuclear and missile programs. The demands of the Iran war also caused President Donald Trump to delay by several weeks his highly anticipated trip to China, deepening worries that the US is once again getting distracted at the cost of its strategic interests in Asia, where Beijing seeks to unseat the US as the regional leader. Those skeptical of the US involvement in the Middle East say the war is preventing Trump from adequately preparing for his summit with Chinese leader Xi Jinping next month, when economic interests are on the line, and they warn that a failure to focus on Asia and maintain strong deterrence could lead to greater instability, if

Xi Jinping helps Trump on Iran war as China assists in ceasefire bid

Hours after a ceasefire publicly brokered by Pakistan was announced, Iranian officials reportedly credited a last-minute push by China with securing their acceptance, a claim soon validated by Trump

China calculates its next steps in Iran ceasefire ahead of Trump's visit

With a fragile ceasefire agreement between the US and Iran holding for now, China is calculating its role in helping find a durable endgame to the war in the Middle East. After prodding China, which is more reliant on Persian Gulf oil than the US, to get involved in reopening the choked-off Strait of Hormuz, US President Donald Trump told French news outlet Agence France-Presse this week that he believed China played a part in encouraging Iran to agree to this week's temporary truce. Three diplomats who were familiar with China's behind-the-scenes efforts also confirmed that Beijing, the biggest purchaser of Iranian oil, used its leverage to urge the Iranians back to the negotiating table. It was a major moment for Beijing, which had decried the US and Israel's war against its economic partner Iran as misguided before getting directly involved in the push to call off the fighting, including discouraging strikes by Iran. Talks between the sides are expected to begin in Pakistan this

How China is becoming the world's most powerful opposition to US power

Like any ambitious opposition party, Beijing is pointing out the weaknesses of the incumbent while portraying itself as a steadier, more predictable partner with fresh ideas

Trump floats seizing Iran oil as he weighs expanding US energy dominance

Trump's proposal reflects push for energy dominance, but raises risks of deeper conflict and global fallout

Trump may be remembered as the US president who lost Asia to China

As US policy grows more erratic, developing nations increasingly see China's steady- if mercantilist- approach as the more reliable bet, reflected in rising adoption of Chinese technology across world

US voices concern over detentions of Panama-flagged vessels by China

The US on Thursday voiced concerns about over detentions of Panama-flagged vessels by China saying such "bullying" destabilises supply chains, raises costs and erodes confidence in the global trading system. "The United States stands with Panama against any retaliatory actions against its sovereignty and will always support our partners in the face of bullying," Secretary of State Marco Rubio said in a post on X. "The United States stands firmly with Panama and looks forward to increasing our economic and security cooperation with this important partner," the Department of State said in a statement. The statement came after China reportedly detained Panama-flagged ships for inspections at Chinese ports. US President Donald Trump is scheduled to visit China on May 14-15. China's action came in the wake of Panama cancelling contracts of Hong Kong-based C K Hutchison to operate two port terminals near the Panama Canal on direction of the Supreme Court and transferred interim operatio

How China has become a flashpoint in Trump's birthright citizenship fight

As the US Supreme Court takes up birthright citizenship, President Donald Trump's push to restrict the rule has revived claims about Chinese 'birth tourism'

Trump to visit China in May after rescheduling trip due to Iran war

US President Donald Trump will travel to China on May 14 and 15 for a rescheduled summit with his Chinese counterpart Xi Jinping, the White House announced on Wednesday. Trump, who was earlier scheduled to travel to Beijing by the end of this month, postponed his trip due to the war in Iran. Announcing Trump's "long-awaited" trip to China, White House Press Secretary Karoline Leavitt said the US president and First Lady Melania will also host President Xi and his wife, Peng Liyuan, for a reciprocal visit to Washington DC at a later date this year. Responding to a question if the two leaders spoke about the conclusion of the war as a precondition to reschedule this meeting, she answered there was no discussion about the rescheduling of the meeting between the president and Xi. "President Xi understood that it's very important for the president to be here throughout the region right now. He understood, obviously, the request to postpone and accept it, which is why we have a meeting,"