Russia and China Reject US Economic Sanctions on Iran

The Federal Government of Russia and the Government of China have formally rejected adhering to economic sanctions and restrictions imposed by the United States on Iran. This joint refusal challenges the economic chokehold the United States has attempted to maintain over the Iranian state.

The diplomatic defiance occurs during a period of relative stability in global capital markets. The US dollar has maintained a firmer bias, supported by rising interest rates in the United States, even as major global powers openly disregard the restrictions.