Monday, March 19, 2012

China gives middle finger to US over economic sanctions on oil sales

With the US and international banking cartels doing their best to squeeze Iran under economic sanctions, China, which relies heavily on Iranian oil, gave the global superpower the proverbial middle finger as Chinese tanker officials told the press that nothing will stand in their way of shipping oil from the Middle Eastern nation to their country.

China, the biggest buyer of Iranian oil, will take steps to prevent European trade sanctions disrupting shipments from the Persian Gulf nation, said tanker operator China Shipping Development Co.

The government has discussed ways of helping shipping companies get insurance once sanctions against Iran kick in on July 1, General Manager Yan Zhichong told reporters in Hong Kong today. The ministry of transport and National Development Reform Commission has had special meetings on the issue, he said.

"The attitude is clear - we must make sure that the volume of our shipments will not drop," Yan said. "The government regards it as a very important issue." – Poor Richards Blog

With Russia already saying they will oppose the US and Israel on any strikes sent at Iran, and now China blatently crossing the line on imposed economic sanctions, the world sits on a powder keg like 1963 and the Cuban Missile Crisis... and this time, it may be the US that blinks.


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