One for the oil folks, and anyone tracking the declining relationship between the US and China.
South China Morning Post with an (overnight) article (ps. its based on a Politico piece the previous day).
The background:
- China imported more than a million barrels of crude oil from Iran last month.
- Which is in defiance of sanctions on Iran
Debate in the US admin about what to do about it:
- State Department considered issuing a waiver to China
- National Security Council seems to take a herder line - pushing for the US to impose secondary sanctions on Chinese entities
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Of course, this all needs to considered in the context of US-China trade talks and the wider (deteriorating) relationship. If sanctions are imposed, its not a good sign for the trade talks.
