Wednesday, January 20, 2016
Saudi Arabia and Iran Over China
RIYADH, Saudi Arabia—Chinese President Xi Jinping’s arrival here Tuesday kicked off a trip that puts his country at the center of a clash between Saudi Arabia and Iran over crude-oil sales, which are at the core of the regional economy.
With Western sanctions over its nuclear program lifted, Iran is preparing to boost its oil exports by 500,000 barrels a day. It is aiming much of that crude at China, Iranian officials say, a country that continued to buy its oil during three years of sanctions but at diminished levels.
China “used to be Iran’s largest buyer during the sanctions,” Amir-Hossein Zamaninia, a deputy petroleum minister in Iran, told state media last weekend. “Iran’s priority is to win back its market share.”
0 comments:
Post a Comment