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China rejects U.S. demand to reduce Iran oil imports

05 August 2018

According to Bloomberg news agency, which cited two officials familiar with the negotiations, Beijing, however, agreed not to increase purchases of Iran's crude.

But US President Donald Trump made a decision to reimpose punishing sanctions against Iran, whom he has accused of posing a security threat.

The deal was thrown into doubt by the US decision to withdraw from a 2015 nuclear deal between Tehran and major powers and reimpose sanctions, part of which are due to resume from Tuesday.

Remaining sanctions - including on Iran's oil and gas sector and central bank - will resume on Nov 5.

The US is due to impose a series of new sanctions on Iran in the next few months.

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"At 9pm [15:30 GMT on Friday] they attacked the school and tried to break the doors down and burn things", the Fars News Agency quoted the head of the school in the town of Ishtehad, Hojatoleslam Hindiani, as saying.

Iran's oil exports could fall by as much as two-thirds by the end of the year because of the USA sanctions, putting oil markets under huge strain amid supply outages elsewhere in the world.

NEW DELHI, Aug 2 (Reuters) - India's monthly oil imports from Iran surged by about 30 percent to a record 768,000 barrels per day (bpd) in July, as state refiners' intake surged ahead of USA sanctions in November, preliminary tanker arrival data obtained by Reuters showed.

Teams of US officials have been visiting capitals around the world to try to choke off sales of Iranian oil by early November, when USA sanctions are due to snap back into effect.

Iran wants guarantees from Europe to maintain banking cooperation and investments in Iran's oil fields as well as continuation of cooperation between Iranian and European small and medium-sized enterprises, Qasemi noted.

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Iranian President Hassan Rouhani has warned the United States against any attempt to stop Tehran's oil trade, threatening to block the strategically important Strait of Hormuz.

Also last month, China, which is Iran's biggest customer, said it did not accept unilateral sanctions against Iran.

"China will continue to cooperate with Iran adhering to its global obligations".

State refiners accounted for about four-fifths of the imports; Indian Oil Corp along with its unit Chennai Petroleum Corp imported approximately 300 000 bpd oil, the preliminary data showed.

The official confirmed that during July delegations would be dispatched to Beijing and Delhi to press home the case, having already visited the capitals of other major Iranian oil importers.

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China's Unipec, the trading arm of Sinopec, has suspended crude oil imports from the United States.

China rejects U.S. demand to reduce Iran oil imports