Trade with Iran Archives - Iran News Daily https://irannewsdaily.com/tag/trade-with-iran/ Tue, 20 Oct 2020 06:39:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.4 https://irannewsdaily.com/wp-content/uploads/2020/04/cropped-iranlogo-32x32.png Trade with Iran Archives - Iran News Daily https://irannewsdaily.com/tag/trade-with-iran/ 32 32 China Accuses US of Interfering in Countries Affairs https://irannewsdaily.com/2020/10/china-accuses-us-of-interfering-in-countries-affairs/ https://irannewsdaily.com/2020/10/china-accuses-us-of-interfering-in-countries-affairs/#respond Tue, 20 Oct 2020 05:35:28 +0000 https://irannewsdaily.com/?p=120437 TEHRAN (Iran News) – China on Monday accused the United States of “peddling arms” and “interfering” in other countries’ affairs after Washington threatened sanctions against any nation to sell weapons to Iran even after the end of a UN ban. US Secretary of State Mike Pompeo threatened that Washington will impose sanctions on any individual […]

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]]> TEHRAN (Iran News) – China on Monday accused the United States of “peddling arms” and “interfering” in other countries’ affairs after Washington threatened sanctions against any nation to sell weapons to Iran even after the end of a UN ban.

US Secretary of State Mike Pompeo threatened that Washington will impose sanctions on any individual or entity that “materially contributes to the supply, sale, or transfer of conventional arms to or from Iran”.

China’s Foreign Ministry said Pompeo’s remarks were “utterly unjustifiable.”

“It is the US that peddles arms and ammunition everywhere, uses military trade to serve geopolitical interests, and even openly interferes in the internal affairs of other countries,” Foreign Ministry spokesman Zhao Lijian told reporters, according to AFP.

Asked if China would now sell arms to Iran, Zhao did not directly address the issue but said Beijing would “handle military trade in accordance with its military export policy and its international obligations”.

The embargo on the sale of conventional arms to Iran began expiring progressively from October 18 under terms of the UN resolution that confirmed the 2015 nuclear deal between Tehran and world powers.

Tehran, which can now purchase weapons from Russia, China and elsewhere, has hailed the expiration as a diplomatic victory over the United States, which suffered a humiliating setback at the UN Security Council when it tried to maintain an indefinite freeze on arms sales.

President Donald Trump withdrew the United States from the nuclear deal in 2018 and unilaterally reimposed sanctions on Iran.

China, Iran’s primary trading partner, has long criticized the United States over exacerbating tensions by pulling out of the deal.

Iran’s foreign minister traveled to Beijing this month for talks spanning trade and defense.

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]]> https://irannewsdaily.com/2020/10/china-accuses-us-of-interfering-in-countries-affairs/feed/ 0 China Establishes $400bln Credit Line for Trade with Iran https://irannewsdaily.com/2019/09/china-establishes-400bln-credit-line-for-trade-with-iran/ https://irannewsdaily.com/2019/09/china-establishes-400bln-credit-line-for-trade-with-iran/#respond Tue, 17 Sep 2019 10:00:38 +0000 https://irannewsdaily.com/?p=98968 The available evidence points to the fact that the $400 billion credit line between Iran and China has gone into operation, Chairwoman of the Money and Capital Market Commission of Tehran’s Chamber of Commerce Farial Mostofi said on Tuesday. She added that the credit line has allowed Chinese investors to undertake projects in Iran without bidding. […]

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The available evidence points to the fact that the $400 billion credit line between Iran and China has gone into operation, Chairwoman of the Money and Capital Market Commission of Tehran’s Chamber of Commerce Farial Mostofi said on Tuesday.

She added that the credit line has allowed Chinese investors to undertake projects in Iran without bidding.

On the French proposal for a $15 billion credit line for oil purchases from Iran, Mostofi said the plan will grind to a halt if the US refuses to authorize France to implement the credit line.

The chairwoman suggested that France could still create the $15 billion credit line between the central banks of the two countries should the US refuse permission for the plan.

Oil Minister Bijan Namdar Zanganeh, though, believes that Iran will go into debt if it receives the $15 billion credit, she added.

Paris has put forward a $15 billion credit line for oil purchases from Iran until year-end in order to convince Tehran not to take the next step in reducing commitments under the nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA).

French Foreign Minister Jean-Yves Le Drian says talks on the credit arrangement, which would be guaranteed by Iranian oil revenues, are in progress, but approval from the US would be crucial.

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