Chinese state-run refiners are awaiting further instructions from the government regarding imports of Iranian crude, but officials and executives indicated a strong likelihood of pushback from the central government against compliance with US sanctions, according to market analysts and participants. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Any move by China will determine whether Washington can cut Iran’s crude exports to zero, impact refinery decisions on switching crude feedstock and redirecting crude flows, as well as affect benchmark oil prices. China is the single largest importer of Iranian crude, and along with India accounted for nearly 70% of the combined share of Iran’s exports in the fourth quarter of 2018, before easing to around 65% in the first quarter of 2019, according to Barclays’ data. “Although the US has stated it wants Iran’s exports to drop to zero, this is unlikely to […]