US Economic D-Day Campaign Targets Iranian Oil Exports and Chinese Ties
The US has launched an 'economic D-Day' campaign against Iran, targeting its oil exports and five other sectors. Analysts say this move may not affect China's ability to continue buying Iranian crude, but could disrupt the flow of oil if major Chinese entities are targeted.
Most of Iran's exported oil goes to independent Chinese refiners in eastern Shandong province, known as 'teapots.' Beijing has stated that it will defend its ties with Iran and does not plan to cut off the Iranian oil trade, despite Washington's new sanctions.
Kpler crude oil analyst Xu Muyu said that if the US targets major Chinese entities, China's stance might change. However, doing so could escalate tensions before a planned summit between Presidents Trump and Xi Jinping next month.