China's Foreign Ministry said on Tuesday it has formally complained to the ...
BEIJING - China’s Foreign Ministry said on Tuesday it has formally complained to the United States over its decision to end waivers on sanctions on Iranian oil imports, adding another fault line to already complicated Beijing-Washington ties.
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. We urge the United States to take a responsible attitude and play a constructive role, not the opposite,” Geng said.The “normal” energy cooperation China and other countries have with Iran within the framework of international law is lawful and reasonable, and should be respected, he added.
Some of China’s refineries are configured to process the Iranian crude and refinery officials say Iranian oil typically yields better margins compared similar grades from rival suppliers such as Saudi Arabia.
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