China’s plans to increase gasoline exports to Iran will effectively thwart US efforts to choke off the country’s energy sector, a recent report reveals.
Forbes reported on Friday that state-owned China National Petroleum Corp.’s trading unit, ChinaOil, has already sent 600,000 barrels of gasoline to Iran in two $55 million shipments. According to the article, the trading unit of China Petroleum & Chemical Corp. (Sinopec), Unipec, has also agreed to sell some 250,000 barrels to Iran through a third party in Singapore.
The report comes at a time when Washington is exerting pressure to halt Iran’s low-level nuclear activities by targeting the country’s gasoline trade.
A bipartisan slate of US senators and lawmakers, tabled a motion in April 2009 that advocated tough sanctions against countries that sell refined petroleum, including gasoline, to Iran. The Islamic Republic has been under US sanctions ever since the 1979 Islamic Revolution toppled a US-backed monarch in Iran.
Tehran says Washington has long been using sanctions, which normally pressure ordinary people in a country, as a tool to force independent nations bow to its “illogical demands.”
On Friday, Iranian Oil Minister Masoud Mirkazemi warned that US-led sanctions against Iran will fail to achieve their desired results as the country has managed to become self-sufficient in oil production and products. Mirkazemi further added that Iran has become “quite the expert in tackling sanctions imposed by Western countries” over the past three decades.
WordPress.com | Thanks for flying with WordPress!
Trouble clicking? Copy and paste this URL into your browser: http://subscribe.wordpress.com