China-Iran Oil Deal
Wall Street Journal, November 1
“Iran has secured a preliminary oil and natural gas agreement with China potentially valued at tens of billions of dollars, the biggest in a spate of energy deals complicating Washington’s efforts to economically isolate Iran over its nuclear program. … The deal demonstrates how global energy needs are complicating U.S. security interests.” Iran is now one of China’s top four crude-oil suppliers. Earlier this year Washington failed to dissuade Japan from signing a $3 billion deal concerning an Iranian oil field. Thus, Iran’s march to regional supremacy continues.