Clinton Hints China May Be Exempt From Iran Sanctions – One Day Before Data Show China Buying More Iranian Oil?

by ~ The Rebel ~ Posted 2012/06/22 16:59:52

Related Topics: China, Iran, Hillary Clinton, Chinese, Oil, Clinton, Secretary Of State Hillary Clinton, 3 Percent, Foreign, Custom, Sanction, Secretary Of State, Wednesday

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One day after Secretary of State Hillary Clinton hinted that China may be exempted from looming sanctions related to the Iranian oil trade, new customs data released Thursday showed that China’s imports of Iranian crude rose by more than one-third between April and May this year.

As the clock ticks down on the imposition of U.S. sanctions on foreign institutions that do business with Iran, Chinese customs data for May showed that while shipments of oil from Iran were down 2.3 percent from one year earlier, they had also climbed from 388,034 barrels per day (bpd) in April to 521,936 bpd a month later, an increase of 34.5 percent.

Clinton said Wednesday that China had “slowly but surely” been acting to reduce oil purchases from Iran, and that “based on the latest data,” it was moving in the right direction.

Karen E 2012/06/22 17:10:20

+1
that witch has her fingers in many pies..........

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~ The Rebel ~ 2012/06/22 17:02:50

+1
The decrease in Chinese imports from Iran until around March-April was tied to a contract dispute between China’s state-controlled Sinopec and Iran’s National Iranian Oil Co., rather than necessarily the result of Chinese attempts to reduce imports at the behest of the United States. The dispute was resolved towards the end of March, hence the increase again in Iranian imports since then.

Of the 10 biggest customers of Iranian oil, according to U.S. Energy Information Administration data for the first half of 2011, China is the only country that has yet to be granted a waiver by the Obama administration, ahead of new sanctions due to enter into force within days.

http://cnsnews.com/news/artic...

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