China says will safeguard Iran nuclear deal, defend bilateral relations
March 25, 2021, 11:15 am

China says will safeguard Iran nuclear deal, defend bilateral relations

Iran and China flags. (Stockphoto)

China will make efforts to safeguard the Iran nuclear deal and defend the legitimate interests of Sino-Iranian relations, the commerce ministry said on Thursday.

Ministry spokesman Gao Feng told a news briefing in response to a question from the media that China has not received notices of sanctions on Iranian oil from the Biden administration.

China’s comments came after Reuters reported that Iran has “indirectly” moved record volumes of oil into China in recent months, marked as supplies from Oman, the UAE and Malaysia, even as China customs data showed that no Iranian oil was imported in the first two months this year.

The increase in Iranian supplies has partly contributed to a drop in Brent crude prices from $70 a barrel in mid-March.

US President Joe Biden has sought to revive talks with Iran on a nuclear deal abandoned by former President Donald Trump in 2018, although harsh economic measures remain in place that Tehran insists be lifted before negotiations resume.

The United States and the other Western powers that signed up to the 2015 deal appear to be at odds with Tehran over which side should return to the accord first, making it unlikely that US sanctions which have crippled Iran’s economy can be quickly removed.

However, the OPEC member’s oil exports climbed in January after a boost in the fourth quarter, despite US sanctions, in a sign that the end of Donald Trump’s term as US president may be changing buyer behavior.

Iranian crude oil exports remain at elevated levels in March compared to last year, tanker tracker Petro-Logistics said on Tuesday, adding to signs of a recovery in the shipments.

The sanctions caused a precipitous drop in Iranian exports to China, India, Japan and South Korea since late 2018.

Those measures, and output cuts by fellow OPEC+ producers, have led to tight supplies of Middle East sour crude in Asia, the top global oil market. Asia imports more than half of its crude from the Middle East.

source: Reuters

Levant

Saudi Arabia requires PCR test every week for some unvaccinated workers Navalny’s condition is stable, says Russia’s jail authority

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.