China is the biggest buyer of Iran’s oil. Could US sanctions threaten those ties? - The Guardian
China is the biggest buyer of Iran’s oil. Could US sanctions threaten those ties? - The Guardian
Source: The Guardian
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DW NOTE
China has been buying Iranian crude at a 30-40% discount for years, settling in yuan through shell companies and phantom tankers. US sanctions haven't stopped it before — they've just made it cheaper. The real question is whether Washington is willing to sanction Chinese state refiners, which would mean sanctioning a fifth of global refining capacity while the Strait of Hormuz is already shut and supply is down 4.3 million barrels per day. That's not a sanctions strategy, that's economic self-harm.