Reported about 1 month ago
Despite the recent US sanctions aimed at Iran's oil trade, which have seen crude prices drop over $5 a barrel, traders appear largely unmoved by the actions. The sanctions are seen as part of a broader strategy to contain Iranian revenue without significantly disrupting oil prices or diplomatic relations, particularly with China, a key buyer of Iranian oil. While US officials claim to be ramping up pressure on Iran, the reluctance to target major Chinese buyers indicates a complex balancing act in US foreign policy.
Source: YAHOO