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China Opposes Unilateral Iran Sanctions

Source: Press TV

China has opposed unilateral sanctions against Iran over its nuclear program, calling for a diplomatic solution on the issue.

"We don't approve of unilateral sanctions on Iran," Foreign Ministry spokeswoman Jiang Yu told reporters on Thursday.

"We hope relevant parties can stick to the direction of diplomatic resolution and seek an effective resolution through dialogue and negotiations."

This comes after South Korea joined the US, EU, Australia, Canada and Japan in imposing unilateral sanctions against Iran.

South Korea said Wednesday it will take unilateral measures against Iranian banks and individuals carrying out foreign exchange transactions.

South Korea's Foreign Ministry spokesman Kim Young-Sun claimed that the Seoul branch of Bank Mellat has facilitated hundreds of millions of dollars in transactions for Iran's defense programs.

Under the sanctions, 102 entities will be targeted by Seoul and all financial institutions will have to report to authorities or gain prior permission should they want to engage in financial transactions with Iran.

Following the UN Security Council's resolution imposing a fourth round of sanctions on Iran in June, the United States and the European Union imposed their own unilateral sanctions.

The US then pressured Japan, Canada, and Australia to impose similar unilateral sanctions on the Islamic Republic, targeting investments in energy-related industries.

The US and its allies accuse Iran of developing a nuclear weapons program. Iran rejects the allegation, saying it is only after peaceful nuclear energy.

... Payvand News - 09/10/10 ... --

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