China slams US law tightening sanctions on Russia and Iran

China criticised the new US law that strengthens sanctions on Russia and extends trade measures on Iran, which was signed Friday by President Donald Trump.Bejing has "consistently opposed" unilateral sanctions and so-called secondary sanctions, according to a Commerce Ministry spokesperson.Specifically, China is against sanctions that lack UN authorisation or a basis in international law, the spokesperson said in a statement posted Saturday.China will monitor Washington's next steps and reserves the right to take all necessary measures to safeguard its sovereignty, development interests and the legitimate rights and interests of its companies, while calling for stable trade ties through dialogue and consultation, the spokesperson said.Trump signed a law authorising tariffs on countries that buy Russian petroleum products, a move closely watched by Ukraine as it seeks stronger US backing in its war with Russia.The top five purchasers of Russian petroleum products - which includes China, India and US allies like Turkey - could be hit with broad new tariffs. Opponents of the bill argue that it could open the door to tariffs on the entire European Union, since some EU countries continue to buy Russian energy products. China's comments come ahead of a high-stakes meeting between Trump and Chinese President Xi Jinping.(This is a Bloomberg story)Get the latest Business News and Live updates. Download the TOI app.