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China strongly opposes US sanctions on oil company

China strongly opposes US sanctions on oil company

January 15th, 2012 in News

BEIJING (AP) - China has expressed strong dissatisfaction over U.S. sanctions on a state-run oil company for allegedly providing large amounts of gasoline to Iran.

The U.S. said Thursday it was hitting Zhuhai Zhenrong with sanctions for brokering the delivery of more than $500 million in gasoline to Iran over six months. It said the company made individual transactions worth more than the $1 million allowable under U.S. law.

Foreign Ministry spokesman Liu Weimin said in a statement late Saturday that imposing unilateral sanctions on Chinese companies based on American law is unreasonable. He said it violates the spirit and content of U.N. resolutions concerning Iran's nuclear program.

The company has denied exporting refined oil to Iran.