SHANA news agency quoted Oct. 6 statement by Iranian Oil Minister Bijan Zangeneh as saying that China National Petroleum Corporation (CNPC) "is no longer involved in the South Pars project".
However, Mr. Zangeneh did not specify or give any reason for the departure of the Chinese corporation.
Chinese officials and CNPC have not yet commented on the information published by Iranian Oil Minister.
South Park is the largest gas reserves in the world. Earlier, the French oil group Total SA also withdrew from the South Pars agreement due to high pressure and the risk of imposing sanctions from the US.
CNPC’s move comes in the context of increasing US sanctions on Iran to carry out a campaign "to put maximum pressure" on this country.
So far, the United States has implemented a series of large-scale sanctions on Iran that have plagued its economy. Along with the sanctions, the US also wants to eliminate Iran’s vital oil export industry.
In the latest relevant move, the US Treasury Department imposed sanctions on Iran on five individuals and six Chinese entities.
Specifically, sanctions against two subsidiaries of China Shipping Group (COSCO), Cosco Shipping Tanker and Cosco Shipping Tanker Seaman and Ship Management, but not the parent company.
In addition, the new US sanctions also target Chinese entities including Concord Petroleum Co, Kunlun Shipping Company Ltd, Kunlun Holding Company Ltd and Pegasus 88 Limited.
The reason given by the United States is that these companies help Iran export oil, in violation of Washington’s ban on the Islamic Republic.
This is not the first time the United States has imposed sanctions on China for alleged violations of a ban on oil transactions with Iran. In July, the US Treasury Department imposed sanctions on oil company Zhuhai Zhengrong and CEO Youmin Li after a Bloomberg report said that China violated U.S. sanctions on the US. Iran.
Earlier, in early September, answering the question of whether U.S. sanctions would affect Chinese and Iranian cooperation in the field of space, Chinese Foreign Ministry representatives said China and Iran. Having friendly relations, the two countries are developing mutually beneficial and friendly cooperation in all areas within the framework of international law.
