U.S. sanctions against Iran's CNPC Kunlun Bank bring disaster

U.S. sanctions against Iran's CNPC Kunlun Bank bring disaster Obama United States on July 31 announced the implementation of new sanctions against Iran's oil industry, but to Chinese Kunlun bank and a bank of Iraq with Iranian banks have maintained business contacts on the grounds, the two banks will be included in the sanctions list. The Obama administration has warned that if the international community to refuse to answer questions on its nuclear program, then Tehran will face more serious consequences Chinese Foreign Ministry spokesman Qin Gang on the U.S. sanctions Kunlun Bank yesterday expressed strong dissatisfaction and resolute opposition, The United States invoked domestic law to impose sanctions on Chinese financial institutions, serious violations of international norms and damage the interests of China. He said that China has made solemn representations to the U.S. side will be Iran's central bank governor Mahmoud in Beijing, Washington. Bach Manila July 31 that it had set up a special team to deal with the Western countries sanctions. The same day, Iranian President Mahmoud Ahmadinejad said Iran should stop exporting crude oil, refined oil production turned to the direction of development. These financial institutions by suspending operations in the United States, today's action clearly shows that we will make the exposure any more desperate Iranian regime's use of the international financial system, financial institutions, regardless of where they are set up in the U.S. Treasury Department said that Bank of Kunlun early in 2012 totaled sanctioned Iranian commercial bank (BANK TEJARAT) transferred approximately $ 100 million. Moreover, the U.S. government also requested that the two bank accounts held by any financial institution acts against the U.S. must close within 10 days, as the Chinese Foreign Ministry Qin Gang's Press Secretary, yesterday urged the U.S. side to immediately correct the wrong practice related to withdraw the unwarranted sanctions Kunlun Bank, stop doing harm the interests of China and Sino-US relations matters. He said, China and Iran have normal state relations, conduct normal, open and transparent business cooperation in the energy, economic and trade fields, with Iran's nuclear program has no relationship does not violate any UN Security Council resolutions and other international standards, without prejudice any third party interests. He pointed out that China's stance on non-proliferation issue is consistent and clear, firmly safeguard the international non-proliferation system, and with the relevant parties including the United States to actively work to promote the proper settlement of the Iranian nuclear issue, but the United States has regardless of China's concern for Chinese companies and banks have repeatedly sanctions, will adversely affect bilateral cooperation in Iran's central bank governor Mahmoud Bach Manila on July 31, said, We have set up a (team at the Central Bank 's) headquarters, team members meet every day , the task is to respond to sanctions . Now all of Iran's central bank and other banks have suffered from sanctions, but we are still doing their job ...... in the sanctions era, we need to start a non-reciprocal economic war, the war has begun ...... Otherwise, we will encounter difficulties and obstacles. He did not say about the for more information, there is no account of what it would take counter-measures during the day in the capital Tehran, Ahmadinejad attended the unveiling ceremony of a refinery stressed: The response team should be toward Iran stopped exporting oil direction, it can be done. He said, We have towards such a direction, that is not to export crude oil, which can be done through the development of oil refining. Ahmadinejad also encourage foreign enterprises to invest in Iran's petrochemical industry until 2007, Iran's serious shortage of refined oil capacity, the need to import large quantities of refined oil and other refined petroleum products from abroad. This weakness has become the Western countries to impose sanctions One of the goals Ahmadinejad said in his speech, when the global demand for oil continues to rise, the West sanctions Iran's oil trade practice ridiculous. He believes that the current international crude oil prices, was deliberately pulled In addition, U.S. Defense Secretary Leon Panetta arrived in Israel yesterday's visit, and denied that this visit is to discuss Iran's nuclear facilities may be pre-emptive strike Israeli Prime Minister Benjamin Netanyahu also said that the Israeli side has not been possible to make a decision to attack Iran but certainly the right to self-defense Kunlun Bank was formerly Karamay City Commercial Bank, in April 2009, China Petroleum Capital Holdings Karamay City Commercial Bank, the size of bank capital grew from 180 million yuan to 31 billion yuan by the end of 2009 reached 21.6 billion asset size Yuan; 2010 again by the capital increase, doubling the size of bank capital reached 60 billion asset size will reach 50 billion yuan April 20, 2010, China Banking Regulatory Commission approval of Karamay City Commercial Bank, the bank changed its name to Bank of Kunlun. said the large central enterprises, petroleum and petrochemical industry chain upstream and downstream enterprises, oil workers and their families is the main mining customer base, based in Xinjiang, relying on oil, and the country, the international is the development of the layout according to the Kunlun Bank Annual Report 2011 The line of international business primarily in large central enterprises, petroleum and petrochemical industry chain upstream and downstream enterprises of the customer base, with China Petroleum five strategic cooperation zones overseas as international business base, service national energy going out strategy of the line with a total of more than 50 countries and regions, hundreds of banks established agency partnership, initially formed a network of correspondent banks. Financial interbank business scope covers international business remittances, letters of credit, guarantees, treasury, trade finance and other services.