Vietnam denies currency manipulation allegations
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The State Bank of Vietnam said the country did not manipulate currencies to gain an advantage in trade in response to United States claims. File Photo by Thomas Maresca/UPI | License Photo
Dec. 17 (UPI) Vietnam is pushing back against U.S. allegations of currency manipulation after the Treasury Department accused the country and Switzerland of unfair practices.
The State Bank of Vietnam said in a statement that Hanoi s management of the exchange rate is aimed at stabilizing the domestic economy and to control inflation, and not to gain an unfair advantage in international trade.
UPDATE 1-Vietnam regrets U.S. decision to sanction firm over Iran-related trade Reuters 12/17/2020
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By Phuong Nguyen and Khanh Vu
HANOI, Dec 17 (Reuters) - Vietnam s Ministry of Foreign Affairs said on Thursday it regretted a U.S. decision to sanction a Vietnamese company relating to the transport of petroleum products from Iran. Trade relations between Vietnam and Iran are strictly civilian and involve goods that would serve the essential needs of people and are not in contrary to the resolutions of the UN, Foreign Ministry spokesperson Le Thi Thu Hang told a daily press briefing.
The U.S. Treasury Department on Wednesday imposed sanctions on a number of global companies, accusing them of supporting the sale of Iranian petrochemicals as Washington increases pressure on Tehran in the closing days of President Donald Trump’s term.
17 December, 2020 Source: ICIS
The US has blacklisted on Wednesday four companies based in China and the UAE for facilitating exports of Iranian petrochemicals.
Sanctions were imposed on UAE’s Alpha Tech Trading FZE and Petroliance Trading Fze; and China’s Donghai International Ship Management Ltd and Petrochem South East Ltd for facilitating sales of Iranian petrochemicals by Hong Kong-based Triliance Petrochemical, which was blacklisted in January 2020.
“These China- and United Arab Emirates-based companies have provided Triliance with critical shipping services or conducted financial transactions on behalf of the company, enabling Triliance to continue brokering and moving Iranian petrochemical exports,” the US Treasury said in a statement dated 16 December.
Publishing date: Dec 17, 2020 • December 17, 2020 • 1 minute read •
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HANOI Vietnam’s Ministry of Foreign Affairs said on Thursday it regretted a U.S. decision to sanction a Vietnamese company relating to the transport of petroleum products from Iran.
“Trade relations between Vietnam and Iran are strictly civilian and involve goods that would serve the essential needs of people and are not in contrary to the resolutions of the UN,” Foreign Ministry spokesperson Le Thi Thu Hang told a daily press briefing.
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