Earlier this month, when US Treasury Secretary Scott Bessent threatened sanctions against any nation continuing to purchase Iranian crude oil, he did not name China. He did not need to. China, the Islamic Republic’s largest oil customer, is squarely in Washington’s crosshairs. The US has already unveiled new sanctions against 60 individuals, companies and vessels linked to Iranian trade, including some in mainland China and Hong Kong. Just three months after the May summit between President Xi…
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