China criticizes US for sanctions on Iran-related companies

China’s foreign ministry criticized the US over the weekend for levying sanctions against a Chinese oil trading company with business in Iran, calling the move “unreasonable” and inconsistent with UN Security Council resolutions, the Financial Times reported. In an attempt to put pressure on Tehran over its nuclear program, Washington announced last week that it would bar a handful of companies with dealings in Iran, including state-owned Chinese firm Zhuhai Zhenrong, from receiving US export licenses, US Export Import Bank financing and loans in excess of US$10 million from US financial institutions. “We express strong dissatisfaction and determined opposition,” said Liu Weimin, a foreign ministry spokesman. China is the largest buyer of Iranian oil, ahead of India and Japan.