US Vice President Joe Biden said yesterday that China has agreed in principle to a new round of UN sanctions against Iran over its nuclear program, the AFP reported. After Russia changed its stance on sanctions, China was left as the solitary UN Security Council member opposed to levying further penalties. China has invested heavily in Iranian energy and has supplanted many Western oil companies that have pulled out of Iran. The new sanctions would ban new investments in Iran’s energy sector, as well as emplace a full arms embargo, restrict shipping and finance, and sanction the business interests of Iran’s Revolutionary Guards, sources said. Diplomats expect a final text can be brought to vote in several weeks.
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