China Wants Even More Iranian Oil

Washington Eyes Move by China to Gain Stronger Foothold in Oil-Rich Iran

• China Seeks to Increase Iranian Oil Imports. In a move virtually guaranteed to irk Washington, a new report suggests that a Chinese state trader, Zhuhai Zhenrong Corp, is negotiating a new crude oil contract with the National Iranian Oil Company that could dramatically raise imports in 2014. Some insiders say that such a move would risk increased U.S. sanctions against the Chinese firm.
• Increased Strategic Cooperation. In a meeting held in Tehran last month, top government officials from Iran and China sought to increase strategic political and economic cooperation between the two countries.
• More Economic Hardball Between China and the U.S. This is the latest in a string of continuing attacks on the failing Petrodollar system, which upholds global demand for the U.S. dollar. By alienating Iran for decades, the U.S. has sought to maintain pressure upon the rogue regime, which still mostly refuses to use U.S. dollars in global oil transactions. Beijing seeks to cleverly gain economic leverage through the new peace talks between Iran and the P5+1 by further destabilizing demand for the U.S. dollar.