Daily Management Review

USA pushing on China to ditch Iranian petroleum


The US is demanding that China stop buying oil from Iran. It is China that imports the lion's share of the oil remaining on sale after the introduction of anti-Iranian sanctions by the Americans. According to US Treasury Secretary Stephen Mnuchin, his subordinates are "in close contact" with Chinese officials to achieve a complete cessation of procurement. A statement was made ahead of the visit of the Chinese delegation to Washington on the issue of a trade agreement.

U.S. Department of Agriculture via flickr
U.S. Department of Agriculture via flickr
The US authorities are consulting with senior officials from the People’s Republic of China in an effort to stop oil supplies from Iran to the country. This was stated in an interview with Fox News by the head of the US Treasury, Steven Mnuchin.

“Thanks to the sanctions, Washington was able to lower Iran’s oil exports. Probably by more than 95%,” he said. He added that most of the remaining oil supplies come from China. He personally - together with representatives of the State Department - met with the Chinese authorities, trying to convince them to stop buying oil from Iran.

As a result of negotiations, Beijing agreed to stop the purchase of Iranian oil at the state level, Mnuchin added, but now a complete embargo needs to be achieved. Moreover, according to the secretary, earlier the United States imposed sanctions against Chinese companies that transported oil from Iran.

Three days earlier, US Secretary of State Mike Pompeo said at a joint press conference with Steven Mnuchin that the White House was introducing a new package of economic sanctions against the Islamic Republic.

The sanctions will target individuals involved in Iran’s construction, manufacturing, textile and mining industries, including major steel producers.

According to Pompeo, the administration also imposes sanctions on eight Iranian officials involved in “destabilizing activities”, as well as in ballistic missile attacks on US air bases in Iraq.

“President expressed himself very clearly: we will continue to apply economic sanctions until Iran ceases terrorist activities and pledges to never have nuclear weapons,” Mnuchin said.

He added that sanctions will “cut off” billions of dollars of support for the Iranian government.

source: foxnews.com, reuters.com