China Assists Iran Over U.S. Sanctions
China, the second biggest economy in the world and an advocate of a new collaborative international economic policy, showed its support to Iran as they face the sanctions imposed by the United States by reaffirming its support to continue the Iran nuclear deal. The United States petroleum-related sanctions imposed on Iran started taking effect on November 5.
China's foreign minister assured that the country will continue to "hold a fair, objective and responsible attitude" and resolutely safeguard its legitimate rights" as they oppose the U.S. unilateral sanctions. Hua Chunying, a foreign ministry spokesperson said at a press briefing that China feels sorry for the US' decision and they noticed that the international world as a whole opposes the practice of such unilateral sanctions.
The spokesperson said that Iran is continuously doing its obligations under the JCPOA and the International Atomic Energy Agency has recognized the country's effort a dozen times. She expressed the country's willingness to continue protecting the country's lawful rights while continuing its support to the JCPOA as they urged other nations to stand on the right side of history.
China believes that the JCPOA is important in safeguarding the authority of UN Security Council, basic norms of international law, international non-proliferation treaty and peace and stability in the Middle East.
China and the European Union are among the few who remained as signatories of the JCPOA who are looking for options to counter the U.S. sanctions. China wants to keep the agreement running. According to experts, China is lucky since they are not subservient to U.S. interests as they battle a bitter trade war with the United States.
The members of the JCPOA including China are large consumers of Iranian crude oil. According to records, Iran is supplying one-third of its crude oil to China which shows the significance of the oil trade between them. China's import of Iranian oil counters the United States' imposed sanctions.
Hu Xijin, Chinese daily Global Times 'chief editor, told Teran Times that Washington will never reduce their Iranian exports to zero. According to the editor, the United States lacks the righteousness to do so and the global community will never support the United States claim.
Iran is looking for other options as they continue talks with other countries in their aim to protect its oil trade. Foreign Minister Javad Zarif released a statement on September 9 saying they will trade with other currencies to avoid using the U.S. dollar believing that it may even be more profitable.