According to an international news agency, this announcement was made in a statement issued by China’s Ministry of Commerce.
The statement said that China would not comply with the U.S. sanctions targeting five companies accused of buying Iranian petroleum at discounted prices.
China’s Ministry of Commerce maintained that it does not recognize U.S. sanctions, and therefore Chinese companies and institutions should not be bound to follow them.
Criticizing the sanctions, the statement added that such measures unfairly restrict Chinese companies from carrying out normal economic, trade, and related activities with other countries.
It further stated that the sanctions imposed on Chinese companies for purchasing Iranian oil violate international law and the basic principles of international relations.
The ministry emphasized that the Chinese government has consistently opposed unilateral sanctions that are imposed without approval from the United Nations and lack a basis in international law.
It is worth noting that three of the five sanctioned Chinese companies are based in Shandong province, while the other two are located in different provinces, including Hengli Petrochemical Refinery and Hebei Xinhai Chemical Group.
China remains a major buyer of Iranian oil through small and independent refineries, which rely on relatively cheaper Iranian crude.
The United States has been imposing sanctions on such refineries to increase financial pressure on Iran and restrict its sources of revenue amid the ongoing conflict.
Just a day earlier, the U.S. also imposed sanctions on another Chinese company, accusing it of importing “millions of barrels” of Iranian crude oil.
Interestingly, these new sanctions have come at a time when the U.S. President is expected to visit China in May for talks with Chinese President Xi Jinping.
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