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Contrasting Views on Whether Iran Will be Able to Continue Selling Oil to China

Source: General Administration of Customs, Bloomberg

China’s independent oil refiners, known as teapots, are betting that the U.S. won’t crack down on Iranian oil shipments for fear of pushing up prices.

While higher gas prices in the U.S. are always very sensitive, particularly in the run-up to a presidential election, the mood in Washington against Iran is hardening and that could lead to much tighter sanctions enforcement.

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