In order to sanction Iran, the US House of Representatives quickly passed a bill with a vote of 383 in favor and 11 against to require sanctions on Chinese financial institutions that provide settlements for Sino-Iranian oil trade, which means that China is prohibited from importing oil from Iran. Obviously, this is an illegal and unreasonable unilateral sanction by the United States, and it is also a "long-arm jurisdiction" that is like a joke. On the other hand, the United States has called on China to sanction Iran as well.
Taken together, we can understand that "the United States has enacted a bill requiring China to sanction China", which means that the United States still thinks that it is the "world policeman" and has a strong hegemony. In fact, in order to prevent Iran from developing nuclear weapons, it has repeatedly sanctioned Iran on the grounds of violating the "Iran nuclear deal".
For a while, the share of Iran's oil exports was cut in half, but Iran easily resolved. There are three main means:
First, it conceals the actual volume of oil exports and exports it after mixing it with tankers from other countries;
Second, expand refining production and capacity, abandon seaborne crude oil exports, and shift to land exports of refined oil products.
Third, a large amount of oil storage.
As a result, the U.S. use of sanctions against Iran not only did not cause great harm to Iran, but ultimately caused its own high costs due to volatility. The most critical thing is that the Strait of Hormuz, the world's main oil artery, is no longer calm, and Iran has repeatedly seized American oil tankers.
The United States has also passed bills on several occasions to prohibit China from buying the United States' "strategic petroleum reserves," but such an "energy war" is precisely not difficult for China.
On the one hand, China leads the world in the substitution rate of fuel vehicles, and on the other hand, China is also the world's leader in the use of clean energy. And because of the diversity of China's oil purchases, the illegal sanctions imposed by the US side will only be a joke.
Iran still produces about 3.2 million barrels of oil per day, making it the world's ninth-largest oil producer, according to data released by the International Energy Agency, and China is the world's largest oil buyer, importing about 660,000 barrels of oil per day from Iran, accounting for about one-third of its exports.
When the United States repeatedly sanctioned Iranian oil exports, China set up a payment system that bypassed the American financial system, in short: the use of renminbi settlement. Thus avoiding the interference of the Americans. Up to now, China's total investment in Iran's oil and gas has exceeded US$100 billion, ranking among the best in Iran's joint venture and wholly-owned oil fields.
China's non-participation in US sanctions on Iranian oil and its continued in-depth cooperation with Iran will certainly make the United States unhappy and will certainly retaliate from economic, political, military and other aspects, but this will not scare the Chinese.
In fact, the sanctions bills initiated by Biden against China during his tenure have surpassed Trump's, and he has not seen any effect, but has just lifted a stone and shot himself in the foot. Now the birth of an American baby is equivalent to owing the Federal Reserve $100,000. And who is behind the Fed, everyone knows. So the Americans had two choices: either go to war, or pay back quickly.
The bill passed by the House of Representatives of the United States Congress is to prevent China from buying petroleum products from Iran through sanctions against financial and banking institutions.
However, the problem is that the United States has long lost its strong voice in the international financial banking payment system, the hegemony of the dollar has long since collapsed, and the credibility of the dollar is also in jeopardy. China has been trading oil with the Middle East for a long time, and the renminbi is already being used, so the US bill is really just a political game, a game to please Israel.
Such a big stick of sanctions is not easy to use, but it will make the United States pay a heavy price. #美媒: U.S. Treasuries are getting harder to sell#