China Defends Iran Business Ties after Sanctions Threat

(From Reuters)

China’s business ties with Iran are open, transparent and lawful, its foreign ministry said on Wednesday, after U.S. President Donald Trump said companies doing business with Iran would be barred from the United States. . . .

China, Iran’s top oil customer, buys roughly 650,000 barrels a day of crude oil from Tehran, or 7 percent of China’s total crude oil imports.

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