Showing posts with label crude oil politics. Show all posts
Showing posts with label crude oil politics. Show all posts

Tuesday, 4 June 2019

Chinese President says US pressure on Iran worrying


A rise in tensions in the Middle East owing to the US pressure on Iran is worrying and all parties need to exercise restraint, Chinese President Xi Jinping told Russian media ahead of a visit to the country.
Tension between Iran and the US has escalated over the past months, after the United States pulled out of a deal between Iran and global powers to curb Tehran’s nuclear program in return for lifting sanctions.
Washington re-imposed sanctions last year and tightened them sharply at the start of last month, ordering all countries to halt imports of Iranian oil. It has also hinted at military confrontation, sending extra forces to the region to counter what it describes as Iranian threats.
Chinese President told TASS news agency and Rossiyskaya Gazeta newspaper that because of the “extreme pressure” Washington has put on Tehran and the unilateral sanctions, tensions have continued to rise in the Middle East.
He reiterated, “The development of the situation is worrying.”
The Iran nuclear deal should be fully implemented and respected, as it is of crucial importance for peace and stability in the Middle East and non-proliferation, Xi added.
 “China and Russia’s views and positions on the Iran nuclear issue are highly aligned, and both hope that all relevant parties remain rational and exercise restraint, step up dialogue and consultations and lower the temperature on the present tense situation,” he said.
China has been angered by U.S. threats against countries and companies that violate U.S. sanctions by importing Iranian oil. China and Iran have close energy ties.
Xi did not directly address the oil sanctions issue, but appeared to allude to them by saying: “China will continue to firmly safeguard its own legitimate and lawful rights and interests”.

Thursday, 2 May 2019

Turkey terms US sanctions against Iran ‘blatant violation of international laws’


Dr. Osman Faruk Logoglu, a senior member of Turkey’s Republican People's Party, condemning the US move to force his country to buy oil from Saudi Arabia and UAE instead of Iran has termed the move “flagrant violation of international law and sovereignty of nations to trade freely.”
In continuation of the US hostile policies against the Iranian nation, the White House recently decided not to reissue waivers on Iranian oil after these expire in early May. The statement went on to say that the United States, Saudi Arabia, and the United Arab Emirates have pledged to ensure that the global market will have sufficient oil supply following Washington's decision to terminate sanctions waivers for countries importing Iranian oil.
Logoglu said, “The sanctions are illegal because these have been imposed unilaterally without a mandate from the UN Security Council or by any other authorized body.”  He also said, that the US was certainly not entitled to import Iranian oil or goods itself but has no right to stop others from engaging in what is legal and proper.  
Logoglu was of the opinion that the US effort to drive Iranian oil exports to zero is not possible.  There will certainly be buyers of Iranian oil who will not comply with US sanctions.  China has already declared that its trade with Iran is legal and normal.  Turkey has also taken a stance against the US move.
The US decision is not likely to bring peace and stability in the region, yet harm the Iranian people. Turkey has rejected unilateral sanctions and impositions on how to conduct relations with neighbors.  Iran's exports might be curtailed for some time in the near future, but in the longer run the volume of its exports could/should rise. Turkey expects adverse reactions to the US decision to grow in due course of time that could help Iran in selling more of its oil.
Logoglu said, “Iran is our neighbor.  We have a broad range of economic relations. Oil is one major element in the nexus of our ties with Iran.  The physical proximity is also an important asset as far as Iranian oil is concerned.   Given the state of our problematic relations with both Saudi Arabia and the UAE, there is no incentive for Turkey to buy oil from them.   
Logoglu, was very clear and said, “Even if Turkey reduces its oil imports from Iran and starts looking for other sources, the alternative for Turkey will be neither Saudi Arabia nor the UAE.  Current conditions do not allow Turkey to turn in that direction.  In any case, the US is not in a position to dictate Turkey where it is to buy its oil from.”