China refuses USA order to reduce oil imports from Iran

China refuses USA order to reduce oil imports from Iran

China refuses USA order to reduce oil imports from Iran

The AP reported that ATR has pushed the US for permission to send the final seven airplanes to Iran.

Following Trump's decision to quit the historic Iran nuclear pact on May 8, the United States vowed to reimpose sanctions lifted under the accord against Iran and inflict punishments like secondary sanctions on nations that have business links with Iran.

In order to pass through tough times ahead the returning U.S. sanctions, we need to promote our cooperation with global power like China, Russia, and the EU, Akhoundi said on August 5, IRNA news agency reported.

On Sunday, Iran received five more ATR turboprop airplanes only a day before the return of U.S. sanctions that have already torpedoed the country's plane purchases with other major providers.

The protests have often begun with slogans against the high cost of living and alleged financial corruption but quickly turned into anti-government rallies.

Last week, Hindustan Petroleum was said to have cancelled a crude oil shipment from Iran after its insurer refused to provide coverage for the cargo on concern about USA sanctions.

Trump claimed the deal wasn't stopping Iran supporting terror groups or developing ballistic missiles.

On 7 August, Washington will reimpose sanctions on Iran's purchase of U.S. dollars, its trade in gold and precious metals and its dealings with metals, coal and industrial-related software.

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"The U.S. has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, dealing a blow to President Donald Trump's efforts to isolate the Islamic Republic after his withdrawal from the 2015 nuclear accord", the report read.

Sanctions will also be reapplied to United States imports of Iranian carpets and foodstuffs and on certain related financial transactions.

The Associated Press reported that a shipment of five new ATR72-600 planes arrived in Tehran as part of a deal with a French-Italian manufacturer for 20 aircraft.

He added that the parts were delivered to the country as part of a 5-million-euro deal.

The snub could seriously undermine U.S. efforts to isolate Iran over the country's controversial nuclear programme. The other partners in the agreement, including the U.K., France, Germany and Russian Federation, criticized the US move to quit the deal.

"We are already seeing auto prices going through the roof over fears about raw material imports", she said.

"There is a massive loss of confidence in the financial system and the government's ability to control things and withstand sanctions", she said.

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