U.S. Treasury Secretary visits China amid escalating tensions over IranJanuary 11, 2012 - 10:35 AMT PanARMENIAN.Net - U.S. Treasury Secretary Timothy Geithner will hold talks Wednesday, Jan 11, with Chinese leaders in Beijing to try to resolve differences with the resource-hungry Asian giant over oil imports from Iran. His visit, which will also take in Japan, comes amid escalating international tensions over Iran's nuclear ambitions and a day after the United States accused Tehran of "blatant disregard for its responsibilities". New U.S. sanctions, intended to put further pressure on Iran bar, any foreign banks that do business with its Iran's central bank from U.S. financial markets. Iran's central bank is responsible for processing most oil purchases in the Islamic republic. But Geithner is likely to encounter strong resistance from China, which relies on Iran for 11 percent of its imported oil supplies and has repeatedly opposed the sanctions. Vice foreign minister Cui Tiankai said this week that China's trade relations with Iran had nothing to do with Tehran's nuclear program. "We should not mix issues of a different nature, and China's legitimate concerns and demands should be respected," he said. Geithner is also expected to raise the issue of China's currency in meetings Wednesday with Premier Wen Jiabao and Vice-President Xi Jinping, who is tipped to be the next head of state, AFP reported. Washington argues that Beijing's decision to keep the yuan artificially low fuels a flow of cheap exports that helped send the US trade deficit with China to more than $270 billion in 2010. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Mirzoyan says meeting with Bayramov was “constructive” At the moment, Ararat Mirzoyan said, there is no basis for additional comments. OSCE vows support for Armenia “in all three directions of security” Achieving stable peace between Armenia and Azerbaijan remains a priority of the OSCE, said Ian Borg. 151 detained as civil disobedience campaigns continue in Yerevan Citizens have been blocking streets in the Armenian capital, demanding Nikol Pashinyan’s resignation. France welcomes Armenia-Azerbaijan meeting in Almaty France has welcomed the new round of negotiations between the foreign ministers of Armenia and Azerbaijan. |