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China protests aligned with bank sanctions

CHINA has urged the US to rescind sanctions against a Chinese bank over its transactions with Iran, saying the move broken China-US relations.
Ministry spokesman Qin Gang said during a statement on Wednesday that China expressed its robust dissatisfaction and firm opposition and would lodge a politician protest with Washington.

“We raise the US to correct the error, withdraw its sanctions against Bank of Kunlun – that is controlled by a significant Chinese oil company – and stop harming Chinese interest and hurting bilateral relations,” Qin said.

The White House on Tuesday announced penalties against China’s Bank of Kunlun and an Iraqi bank that the Obama administration says have helped Iran evade international sanctions. Kunlun are going to be unable to try and do business with any US banks.

A bill which will impose new sanctions on Iran’s energy, shipping and money sectors is also gaining robust congressional support as politicians ask for to spice up economic pressure in hopes of halting Tehran’s suspected nuclear weapons program.

Founded as a municipal business bank within the so much western region of Xinjiang, Kunlun is currently controlled by state-owned China National Petroleum Corp., that invested quite five.8 billion yuan ($A880 million) within the bank between 2009 and 2010.

Qin said China and Iran maintain traditional relations and have open and clear collaborations in energy and trade, none of that has something to try and do with Iran’s nuclear program nor violates international rules.

Qin repeated China’s stance against nuclear proliferation.