Bid & Tender
Iran Oil Sanctions Could Advance China's 'Petro-Yuan'

Date : May 11, 2018

China is positioned to be a chief beneficiary of the U.S. decision to withdraw from the Iran nuclear deal as it would give China leverage to demand oil imports be priced in yuan, several currency experts said on Thursday.

 

President Donald Trump is preparing to impose new sanctions on Iran, the White House said on Wednesday, following the U.S. withdrawal from the multinational 2015 agreement that stalled Iran's nuclear program.

 

The sanctions would aim to limit global trade of the oil producer's crude. The effects may be muted as major Asian importers, China chief among them, are likely to continue buying Iranian oil.

 

China is positioned to be a chief beneficiary of the U.S. decision to withdraw from the Iran nuclear deal as it would give China leverage to demand oil imports be priced in yuan, several currency experts said on Thursday.

 

President Donald Trump is preparing to impose new sanctions on Iran, the White House said on Wednesday, following the U.S. withdrawal from the multinational 2015 agreement that stalled Iran's nuclear program.

 

The sanctions would aim to limit global trade of the oil producer's crude. The effects may be muted as major Asian importers, China chief among them, are likely to continue buying Iranian oil.