Bloomberg News: The Trump administration is considering suspending oil sanctions on China related to Iran
Bloomberg News reported that the Donald Trump administration is considering suspending or lifting some of the sanctions related to Chinese companies buying oil from Iran.
This report was published hours after Trump’s return from an official visit to China.
According to Bloomberg, the U.S. President raised the issue of sanctions on Chinese companies purchasing Iranian oil during his meeting with Xi Jinping, and now Washington is considering easing the pressure on these companies.
Last week, the U.S. State Department and the Treasury Department sanctioned several companies related to Iranian oil exports, including the Chinese company Qingdao Haier and its manager.
If these sanctions are suspended, Chinese companies will have easier access to Iranian oil, and the Islamic Republic could gain access to billions of dollars in previously deprived oil revenue.
