US Sanctions Threaten China's Oil Deals with Iran

The US government is considering imposing additional sanctions on Iran due to the ongoing blockade of the Strait of Hormuz, which has disrupted oil flows and increased pressure on gasoline prices in the US. As part of this effort, Washington may target companies or countries doing business with Tehran.

Nathan Bomey, an Axios Business Reporter, suggests that China's purchases of Iranian oil could come under scrutiny if the US imposes new sanctions. The Strait of Hormuz blockade has already had a significant impact on global oil markets, and any further disruption could have far-reaching consequences for energy prices.