Caixin
Nov 06, 2018 06:35 PM
BUSINESS & TECH

Threat of Clash Could Deter China From Skirting New U.S. Sanctions on Iran

An oil terminal on Iran's Kharg Island in the Persian Gulf on March 12, 2017. Photo: IC
An oil terminal on Iran's Kharg Island in the Persian Gulf on March 12, 2017. Photo: IC

Despite dodging a bullet when it was temporarily exempted from renewed U.S. sanctions on Iranian oil importers, the desire to avoid future face-offs with Washington is likely to encourage Beijing to wean itself from Iran’s top foreign exchange earner.

U.S. Secretary of State Mike Pompeo announced the re-imposition of sanctions on Iran’s oil, banking and shipping sectors at a press briefing on Monday, in response to the current administration’s suspicions that the country is continuing its nuclear program with an ultimate aim of developing nuclear weapons.

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