China could bend on Iran nuclear sanctions: experts

A vote by Beijing in Tehran's favor within the U.N. “would run counter to many of its interests with the United States and Europe, and Iran in the end is not really one of its major partners,” she said.

“In the worst case scenario, the Chinese would abstain... but I think what they will try to do is modify the text of an eventual resolution and make the most of the negotiations before any discussions (on a resolution).”

“Of course, this will all depend on what the Russians do,” Meidan added.

The five veto-wielding permanent members of the U.N. Security Council — Britain, China, France, Russia and the United States — plus Germany are currently in talks with Iran in a bid to end the standoff.

Samuel Ciszuk, an analyst at IHS Global Insight, agreed that China was unlikely to use its veto but would instead try to “water down” any U.N. text targeting Tehran.

“Looking over the last few years, China has not stuck up for Iran,” Ciszuk said.

“China needs energy but they also need the market for their products in the West,” he added. “There is a lot of interest in keeping relations with the developed economies on a good footing.”

He said Chinese firms such as state-owned energy giants CNPC, CNOOC and Sinopec were the “only players in the starting blocks” in Iran and had been “clever in moving in where Western companies previously had a stake.”

“It is not just South Pars — it is South Azadegan, it is North Pars,” Ciszuk said, while noting the companies “haven't really started investing money... they are almost as careful as Western companies.”

As for the possibility raised in Washington of sanctions on fuel deliveries to Iran, experts say the impact of such a move would be minimal for China, as the transactions were mainly spot contracts.

Meidan said the 30,000-40,000 barrels a day at stake, according to a Financial Times report, “would only mildly affect Chinese traders.”

1|2

SharePrintEmail

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos
 Respond to this email