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Iran says Chinese state oil firm withdraws from $5B deal
The South Pars field deal, struck in the wake of Iran's 2015 nuclear deal with world powers, appears to be just the latest business casualty of America's PRESSURE CAMPAIGN on Tehran following President Donald Trump's unilateral withdrawal of the U.S. from the deal.

It also comes as China and the U.S. engage in their own trade war, as Beijing and Washington levy billions of dollars of tariffs on each other's goods.

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Oil Minister Bijan Zangeneh, quoted by the ministry's SHANA news agency, said Sunday that the China National Petroleum Corp. was "no longer in the project." He did not elaborate or give any reason for the withdrawal, though SHANA said the company "had pulled out of a contract" to develop the field.

Officials in Beijing didn't immediately acknowledge their decision. Phone calls to the CNPC rang unanswered on Sunday and its website bore no mention of the withdrawal.

However, Iranian Foreign Minister Mohammad Javad Zarif separately complained Sunday about the U.S. campaign against Tehran and its impact on foreign investments.

"We have been facing plenty of problems in the field of investment because of the U.S. maximum pressure policy," Zarif told a parliamentary committee, according to the semi-official Tasnim news agency. "We are trying to remove the problems."

Iran holds the world's second-largest known reserves of natural gas and the world's fourth-largest oil reserves.

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Nebraska Sen. Ben Sasse said in a statement to the Omaha World-Herald: "Americans don't look to Chinese commies for the truth. If the Biden kid broke laws by selling his name to Beijing, that's a matter for American courts, not communist tyrants running torture camps."

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Diversity is the key to economic and political evolution.

by Cat on Sun Oct 6th, 2019 at 05:10:56 PM EST
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