The United States has sanctioned Zhuhai Zhenrong one of China's largest state-backed oil companies for allegedly violating restrictions on Iran's oil sector.<br />U.S. Secretary of State Mike Pompeo said Monday that the company will be banned from engaging in foreign exchange, banking or property transaction under U.S. jurisdiction.<br />The Trump administration has sought to pressure Tehran's economy by forcing Iran's oil exports to zero ever since it withdrew from the 2015 nuclear deal early last year.<br />Reacting to the news,... China's embassy in Washington said it opposes the U.S. sanctions and the so-called 'long-arm jurisdiction' on China.<br />
