China will not support US sanctions against Iranian petroleum, the Chinese Academy of Modern International Relations said, ITAR-TASS reports.
US Secretary of the Treasury Timothy Geithner arrived in Beijing earlier to explain Washington’s position against Iran.
US President Barack Obama approved sanctions against the Iranian Central Bank and the financial sector on December 31. The sanctions block the access of foreign banks making payments to Iran for oil imports. The initiative is to reduce Iran’s income from petroleum and force it to abandon the nuclear program.
China cannot abandon Iranian oil due to practical and ideological reasons. Iran is the third largest supplier of hydrocarbons to China. Beijing buys 20% of all Iranian oil exports. China adds that sanctions and threats are the least favourable means to resolve conflicts.
Geithner met Chinese Vice-Premier Van Qishan in Beijing. They discussed bilateral trade-economic cooperation, restoration of global economy. Chinese records exclude discussions of the Iranian problem. The US official will meet Prime Minister Wen Jiabao, First Secretary of Secretariat of the Communist Party Xi Jinping and Vice-Premier Li Keqiang.
