China cuts Iran oil purchases ahead of US sanctions

[Hamartia Antidote]

China falls into line...

https://www.fxstreet.com/news/china-cuts-iran-oil-purchases-ahead-of-us-sanctions-wsj-201810260226

According to a report carried by the Wall Street Journal (WSJ) on Friday, China has asked its oil companies to cut some its oil trade with Iran in an attempt to please Washington, as the US seeks to reduce Iran’s exports sales to zero and isolate the Islamic Republic.

Meanwhile, Bloomberg reports that China has asked its state-owned oil companies, China National Petroleum Corp and Sinopec to avoid buying Iranian oil, as the US sanctions are set to take effect Nov 4.

 

[艹艹艹]

https://www.reuters.com/article/us-...in-october-november-rosneft-ceo-idUSKCN1MZ15K

OCTOBER 25, 2018 / 5:24 PM / UPDATED 18 HOURS AGO
Iran to boost oil supplies to China in October-November: Rosneft CEO

1 MIN READ

VERONA, Italy (Reuters) - Iran plans to supply more than 20 million barrels of crude oil to the Chinese port of Dalian in the October-November period, up sharply from the usual monthly volumes of up to 3 million barrels, Igor Sechin, the CEO of Russian oil major Rosneft, said on Thursday.

 

[war&peace]

https://www.reuters.com/article/us-...in-october-november-rosneft-ceo-idUSKCN1MZ15K

OCTOBER 25, 2018 / 5:24 PM / UPDATED 18 HOURS AGO
Iran to boost oil supplies to China in October-November: Rosneft CEO

1 MIN READ

VERONA, Italy (Reuters) - Iran plans to supply more than 20 million barrels of crude oil to the Chinese port of Dalian in the October-November period, up sharply from the usual monthly volumes of up to 3 million barrels, Igor Sechin, the CEO of Russian oil major Rosneft, said on Thursday.

You just slapped the propagandist with facts.

 

[艹艹艹]

In October 24th, the Ministry of foreign affairs responded.
Continue to cooperate under the framework of international law

问：美国要求其他国家自11月4日起，停止从伊朗购买原油，否则将对他们实施制裁。中国是否会继续从伊朗进口石油？在这方面将采取何种策略？

答：其实你问的核心问题就是伊核问题全面协议还要不要继续执行的问题，在这方面中方的立场已经讲得非常清楚了。

首先，中方一向反对单边制裁和“长臂管辖”。中方同伊方在国际法框架下开展正常合作，合情、合理、合法，理应得到尊重和维护。

第二，你可能也注意到，今年9月，伊朗核问题全面协议现有参与方在纽约举行外长会并发表联合声明，各方认识到保障伊朗从中获得经济红利是全面协议的重要组成部分。中方欢迎维持与伊朗正常经贸合作的务实解决方案，维护全面协议有效性，维护国际核不扩散体系及中东和平稳定，维护多边主义和国际规则。

中方和欧盟等有关方将全力维护好各自的正当合法权益。

 

[Dexon]

Unfortunately, China has probably stopped buying oil from Iran. The National Oil Company of China and Sinopec did not register any custom for buying Iranian oil next month. Kenolon's state bank has stopped paying the yuan to Iran from November 1, three days before sanctions began. The bank is controlled by the National Petroleum Corporation of China and buys 1.5 billion dollars a month from Iran. It's not clear how long this suspension will take...

 

[艹艹艹]

Unfortunately, China has probably stopped buying oil from Iran. The National Oil Company of China and Sinopec did not register any custom for buying Iranian oil next month. Kenolon's state bank has stopped paying the yuan to Iran from November 1, three days before sanctions began. The bank is controlled by the National Petroleum Corporation of China and buys 1.5 billion dollars a month from Iran. It's not clear how long this suspension will take...

need have no worry

 

[Dexon]

need have no worry

I'm not worried. We went through much more difficult conditions. I just told the news I heard. I'm searching now. Some of these news are denied. Anyway, time will tell everything...

 

[艹艹艹]

I'm not worried. We went through much more difficult conditions. I just told the news I heard. I'm searching now. Some of these news are denied. Anyway, time will tell everything...

Some information in the mail


“
Bank should be ANY Chinese Bank but NOT Kunlun Bank.

We cannot Transfer Money to Kunlun Bank.

You should put another Chinese Bank which is your Bank.

Your Bank Account should be for RMB.
”
“
Our Bank will Transfer the Money through a Money Exchanger to your Bank,

either Agricultural Bank of China or China Merchants' Bank.

There will be NO indication of Iran !!!

BUT, your have to indicate in your BL, Commercial Invoice , Certificate of

Origin as the Final Destination is Iran.

Does it make any problem for you ??

Please ask you Banks as well as the Chamber of Commerce.
”


How to operate is not clear. There should be other channels.

 

[LASER1]

Chinese companies pulled out???

 

[manga]

China bending down to please washington ? Should i be surprised ?

 

[Feng Leng]

We stopped using US dollar to purchase because petroleum is now denominated in RMB!!!

 

[LASER1]

We stopped using US dollar to purchase because petroleum is now denominated in RMB!!!

And your currency is pegged against USD.

 

[艹艹艹]

China bending down to please washington ? Should i be surprised ?

And your currency is pegged against USD.

We buy oil from Russia，Kazakhstan and use RMB to settle accounts.

 

[LASER1]

We buy oil from Russia，Kazakhstan and use RMB to settle accounts.

My reply was to the ending dollar dominance comment.

 

[艹艹艹]

My reply was to the ending dollar dominance comment.

This is a process, and someone will definitely challenge the status of the US dollar.