Chinese Reduce Purchases of Crude Oil Iran

After the previous few countries led by the United States said to stop buying Iranian oil, China is now applying the same. No stop at all, China is only halved the purchase.
As reported by Reuters Thursday, January 5, 2012, this month China will buy 285,000 barrels per day. Earlier in 2011, China bought 550,000 barrels of Iranian oil a day. The transaction is making China the biggest buyer of Iranian oil, about 10 percent of overall sales.
"In February will also be the same as in January, any reduction in the purchase," said one of the sellers of crude oil in China senior unnamed.
Previously, the European Union on Wednesday it has agreed to impose an embargo on Iranian oil. This is in line with U.S. calls for new sanctions on Iran's nuclear program. Other Asian countries are planning to impose an oil embargo on Iran is Japan.
EU, China and Japan, bought half of total exports of Iranian crude oil, about 2.6 million barrels per day. However, unlike Japan and Western countries, reducing purchases of Iranian crude oil by China are not related to economic sanctions, but rather on the disagreement of the transaction.
According to the declaration of the Chinese oil company Sinopec Corp, there is no agreement between the two countries over the period of payment. China asked for the payment period of 90 days, while Iran insisted their oil must be paid within 60 days.
With the purchase of reducing a country's main partner of Iran, Mahmoud Ahmadinejad's government will have to find candidates for other potential buyers. According to Reuters, Iran has now bagged the matter in February of Vietnam, Russia, Middle East and Africa.
"Iran will be able through this storm. With God's help, Iran is ready to face any problems, and we do not care at all about sanctions," said the Iranian Minister of Foreign Affairs, Ali Akbar Salehi