13:32 GMT +321 May 2019
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    Iranian oil technician checks the oil separator facilities in Azadegan oil field, near Ahvaz, Iran (File)

    Beijing Vows to Defend Business Amid US' Reported Plans to End Iran Oil Waivers

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    Earlier, The Washington Post newspaper reported, citing sources, that starting from May 2, Washington would end its sanctions waivers enabling countries importing Iranian oil to continue doing so. The decision will be reportedly announced by the Department of State later on Monday.

    BEIJING (Sputnik) — Beijing stands against the United States’ unilateral restrictions against Iran and will take every effort to defend interests of national companies doing legal business with the Islamic republic, Chinese Foreign Ministry spokesman Geng Shuang said on Monday, commenting on Washington’s reported plans to scrap oil sanctions waivers.

    "China opposes unilateral sanctions. Cooperation between China and Iran is open, transparent and legal. This must be respected. The Chinese government will do its best to protect the legitimate interests of its companies," Geng said at a briefing, commenting on the possible US actions.

    READ MORE: US to Announce Iran Oil Sanctions Waivers Cancellation Starting May 2 — Reports

    Last year, the United States withdrew from the 2015 Iran nuclear deal and reinstated wide-ranging sanctions on Tehran. In early November, Washington, however, granted six-month waivers from oil sanctions against Iran to Greece, Italy, Taiwan, China, India, Turkey, Japan and South Korea.

    The United States wants all importers to eventually cut their oil sales from Iran to zero, which is likely to have a significant impact on the Middle Eastern country, where oil exports serve as one of main sources of budget revenues.

    Tags:
    oil business, Iran nuclear deal, Chinese Foreign Ministry, Iran, China, United States
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