US plan to end Iran oil waivers to intensify Mideast turmoil: China
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US plan to end Iran oil waivers to intensify Mideast turmoil: China

“China firmly opposes the US implementation of unilateral sanctions and its so-called long-armed jurisdiction,” Foreign Ministry spokesman Geng Shuang told reporters on Tuesday. In a statement issued on Monday, the White House said US President Donald Trump has decided not to reissue waivers that allow eight countries to buy Iranian oil without facing US sanctions when they expire in May. Shuang said the move will “intensify the turmoil in the Middle East and the turmoil in the international energy market.” The Chinese diplomat said that normal interactions between Iran and other countries are “reasonable and lawful” and deserve respect and protection. Describing the move as a violation of the Asian country’s interests, Shuang said China, a major importer of Iranian crude, would continue efforts to safeguard its companies’ interests. Iran has said it considers no value and credit for the US sanctions waivers and is in touch with its foreign partners, including Europeans and neighbors, to counter any adverse consequences of the US bans, which were reimposed last year after Washington abandoned the 2015 multilateral nuclear deal. The latest US measure against Iran has sent oil prices to new highs. World oil prices jumped to near six-month highs on Tuesday. Brent crude oil futures rose 0.7 percent to $74.57 per barrel by 0630 GMT, their highest since November last year.

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