Saturday, 3 March 2012

Geithner presses Beijing on Iran, currency

BEIJING (AP) — U.S. Treasury Secretary Timothy Geithner and Chinese leaders pledged Wednesday to build economic ties but Beijing gave no sign it would relent in its opposition to American sanctions on Iran's oil industry.

Geithner planned to press Beijing on U.S. complaints about its currency controls as well as lobby for support to rein in Iranian nuclear ambitions. China, a major buyer of Iranian crude, has rejected unilateral U.S. sanctions as improper and industry analysts say it is unlikely to cooperate with an oil embargo.

The secretary and Chinese officials were upbeat about relations in portions of meetings reporters were allowed to watch and gave no sign of their …

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