On July 31, U.S. President Barack Obama announced two sanction measures against Iran. Accused of providing financial service to Iranian banks, Kunlun Bank of China was included in the sanction list. January also witnessed that the United States, in accordance with the so-called Iran sanctions package, imposed sanctions on China’s Zhen Rong Company for no reason.
In recent years, at the excuse of Iran’s controversial nuclear program, the United States has issued several sanctions without permission of the U.N. Security Council. According to International law, a country has no right to impose its domestic law on other countries while a country has no obligation to observe domestic law of other countries. However, it is the domestic law that the United States invoked to impose sanction on Kunlun Bank, supporting statements of which cannot be found in U.N. Security Council resolutions on the Iranian nuclear issue.
The U.N. Security Council neither bans any country to conduct oil trade with Iran, nor orders any country to completely stop financial cooperation with Iran. The overreaching U.S. jurisdiction is of extra-territoriality, which is its pursuit of international hegemony and power politics by means of domestic law.
