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supapowans must be rolling on the floor in pain.
Nobody wants sanctions from the US, they will destroy the economy very badly. India stopped buying Iranian oil because they knew this and China does as well.
China is different, cutting trade with China does more harm to US economy than to China's, US knows that, that's why US is so eager to make a deal with China while China is in no hurry.
There is a difference, India bended over like a gd bitch while China didn't give a fck. Did we ask for an exemption? They want to give us 'only'. We didnt stop buying at all, for almost 2 months the western media keep on saying China did not buy Iranian oil. The Indians were so delighted that we were at last gonna be poodles like them.
Does China have no oil? Is there any in the north near the Russian border? And can it become self sufficient?
We are actually the top 10 oil producers but it ain't enough. We have a 50%-60% dependency ratio. That's why we are investing heavily into EV and renewables cause oil ain't gonna last forever.
China has large oil reserves in Xinjiang and South China sea and Bohai bay, but extracting them can cost more money to buying in the world market, oil price is very cheap now and China wants to take the full advantage of it, US in the past did the same thing, buying oil in the world market rather than getting its own.
Should ask US would rather lose China trade or Iran sanction.
China is a matured and strong economy to BUY Iranian oil and not get serious repercussions from US because that could lead the US and CHina down a relatively "unnecessary" economic slope. Its all negotiations. India not buying Iranian oil after US placed sanctions was just a tactical patience move to give US respect and watch its behavior. Now we see China and India jumping back on Iranian oil less than a year..what am i saying less than 6 months after US imposed sanctions. US sanctions are allso becoming like vaccinations- countries are absorbing them and adjusting to them. Sadly, it looks like the US's last move. Once they dont work, US has NO other good move... but for now, they come with a bite..
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