The video provides a view that won't be available in the western media
China’s
Iranian crude imports remain in US firing line
Washington
has granted waivers to sanctions on Iranian oil imports to several
countries, leaving China the only major oil importer subject to US
penalties. Chinese oil giant Sinopec announced it will not raise
imports in an effort to allay sanctions.
RT,
12
June, 2012
The
US government added India, South Korea and four more nations to the
list of countries exempt from the sanctions on Monday.
Ten
EU nations and Japan were granted waivers in March to US financial
penalties.
The
US considers that these countries have made a considerable effort to
lower imports of Iranian crude with a view to stifling the Islamic
Republic’s lucrative oil industry and curtailing its nuclear
program.
US
supporters of the sanctions against Iran say China has been receiving
clandestine cargoes of Iranian oil which have had their tracking
signals disabled.
Iran
maintains that its nuclear research program is purely for civilian
purposes, but the US and Israel insist the country is in the process
of developing atomic weapons.
A
new set of heavy sanctions may be introduced on June 28 by the US
aimed at putting further pressure on Iran.
"By
reducing Iran's oil sales, we are sending a decisive message to
Iran's leaders: until they take concrete actions to satisfy the
concerns of the international community, they will continue to face
increasing isolation and pressure," said US state secretary
Hilary Clinton in a press release on Monday.
China
currently imports over a fifth of the oil produced in Iran and does
not support sanctions against the country.
Spokesman
for the Chinese embassy in Washington Geng Shuang said that China’s
government seeks a diplomatic solution to the nuclear issue and
"opposes unilateral sanctions imposed by one country on others.”
China’s
biggest buyer of Iranian crude Sinopec has announced it will not be
increasing its imports in the next year in an effort to sidestep US
financial penalties.
China
made significant cuts to its imports during the first quarter, but
the US suspects it will not be able to resist reduced prices when
Iran attempts to sell off crude that no one else will buy.
Sinopec
has already received several offers from Iran but has turned them
down, a Beijing official told Reuters.
China
is the world’s second-largest oil consumer and is currently
bolstering its stores to compensate for countrywide power cuts.
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