Chinese company invites US fury and sanctions for importing Iranian oil

The United States imposed sanctions on the Chinese company, Zhuhai Zhenrong, for importing oil from Iran. The move came in conflict with US sanctions imposed on Iran, which forbids all the nations from importing Iranian crude oil. Despite levying sanctions on Tehran last year, US granted a waiver to eight nations, allowing them to continue Iranian imports for about 6 months. China was one of the nations to receive waiver which got expired on May 2, 2019.

On Monday, US Secretary of State, Mike Pompeo, announced US’s stand against the Chinese state-run energy company and one of it executive, whom it accused of knowingly engaging in a trade transaction of crude oil with Iran, violating the embargo imposed on Tehran.

Pompeo announced the decision while delivering a speech in the US city of Orlando. He said, “We’ve said that we will sanction any sanctionable behavior, and we mean it…As part of that maximum pressure campaign, I am announcing that the United States is imposing sanctions on the Chinese entity Zhuhai Zhenrong and its chief executive Youmin Li. They violated U.S. law by accepting crude oil.”

US President Donald Trump, imposed a stern trade embargo on Iran in November after pulling out of the 2015 nuclear treaty signed between Tehran and six world powers. US accused Iran of developing nuclear weapons.

China’s embassy in Washington rejected US claim. A Chinese spokesperson said, “China firmly opposes the U.S. imposition of unilateral sanctions and so-called ‘long-arm jurisdiction’ on China and other countries invoking its domestic law. We urge the U.S. to immediately correct its wrongdoing and earnestly respect other parties’ legal rights and interests.”

Zhuhai Zhenrong, a Beijing based oil-transporting company, also faced sanctions in 2012 during the Obama administration over carrying out a trade deal with Iran.

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