China unlikely to stop buying Iranian oil in the face of U.S. threats, Biden-era economist says
Summary
China is expected to continue buying oil from Iran despite threats from the United States to punish countries that trade with Iran. A former U.S. government economist under President Biden said that these U.S. threats are unlikely to stop China’s oil purchases from Iran.Key Facts
- The U.S. has warned it will impose secondary sanctions on countries that trade with Iran.
- Secondary sanctions target countries or companies that do business with Iran, even if they are not directly from the U.S.
- China is a major buyer of Iranian oil.
- An economist who worked for the U.S. State Department during the Biden administration believes China will not stop buying Iranian oil because of these threats.
- The U.S. campaign aims to hurt Iran economically by limiting its oil exports.
- Despite pressure, China values its oil relationship with Iran and appears not to be backing down.
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