China lodges representations with U.S. over end to Iran sanction waivers
April 23, 2019 03:28 PM NPT
FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005. REUTERS/Raheb Homavandi
BEIJING, April 23: China’s Ministry of Foreign Affairs said on Tuesday it has lodged representations with the United States over its decision to end waivers on sanctions on Iranian oil imports.
China is Iran’s largest crude oil customer, with total imports last year of 29.27 million tonnes, or about 585,400 barrels a day, roughly 6 percent of China’s total oil imports, according to customs data.
“The decision from the U.S. will contribute to volatility in the Middle East and in the international energy market,” Geng Shuang, a ministry spokesman, told a news briefing.
Washington has announced that all Iran sanction waivers will end by May, causing crude oil prices to rise and pressuring importers to cut their Iranian imports to zero.