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01/15/12

China Objects to US Sanctions on Oil Company

Source: VOA

China has expressed "strong dissatisfaction" to the U.S. decision to impose sanctions on a state-run oil company that allegedly provided large amounts of gasoline to Iran.

Washington said Thursday it is hitting Zuhai Zhenrong Corporation with sanctions for brokering the delivery of more than $500 million in gasoline to Iran over six months.

The official Xinhua news agency carried a statement late Saturday from Foreign Ministry spokesman Liu Weimin, who said Beijing firmly opposes the move.

Liu said China's cooperation with Iran is similar to other countries. He called the sanctions without reason and against the content and spirit of resolutions by the U.N. Security Council on the Iran nuclear issue.

The sanctions came shortly after U.S. Treasury Secretary Timothy Geithner met with Chinese leaders in Beijing to ask for help in implementing the U.S. and European campaign to squeeze Iran's oil revenues and push Tehran to halt its nuclear program. China has resisted economic sanctions against the Middle Eastern country.

Some information for this report was provided by AP and AFP.

Related Story by VOA:

China's Wen Presses Saudi Arabia For Oil Access

Chinese Premier Wen Jiabao arrived in Saudi Arabia Saturday on the first leg of a diplomatic mission that will also take him to Qatar and the United Arab Emirates.

China's official Xinhua news agency said that, in a meeting Saturday with Interior Minister Prince Nayef bin Abdul-Aziz, Wen pressed Saudi Arabia to open its huge oil and gas resources to expanded Chinese investment.

The kingdom's SPA news agency said Saudi state oil giant Aramco signed a deal Saturday with China's Sinopec to build an oil refinery in the Red Sea city of Yanbu that will process 400,000 barrels per day.

Wen arrived in Riyadh after a short visit to Nepal on the same day.

During his brief visit, Wen met with his Nepalese counterpart, Baburam Bhattari, and oversaw the signing of several agreements. He also pledged money for infrastructure projects to help rebuild the nation following a decade-long civil war that ended in 2006.

Some information for this report was provided by Reuters.

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