Beijing said Tuesday China’s purchases of Iranian oil were legal and transparent, after the United States refused to exempt it from tough new sanctions

Beijing said Tuesday China's purchases of Iranian oil were legal and transparent, after the United States refused to exempt it from tough new sanctions.
  
Washington announced Monday that tough new sanctions that penalise foreign financial institutions would not be imposed on seven emerging economies, including India, after those countries cut back on the amount of oil they buy from Iran.
  
But China -- which depends heavily on crude from Iran and elsewhere to power its giant economy and has worked to shield Tehran from mounting UN restrictions -- still faces punishment.
  
"China is opposed to one country imposing unilateral sanctions on another country in accordance with domestic law, let alone imposing sanctions on a third country," foreign ministry spokesman Liu Weimin said in response to the US move.
  
"China has imported crude oil from Iran through normal channels which is open and transparent, they do not violate relevant Security Council resolutions. "We believe this is completely legal and fair."
  
The United States will from June 28 impose sanctions on foreign financial institutions for their transactions with Iran's central bank, which handles sales of the country's key export.
  
Secretary of State Hillary Clinton added India, Malaysia, South Africa, South Korea, Sri Lanka, Turkey and Taiwan to the list of those exempt from the sanctions. In March, she made exemptions for European Union nations and Japan.