The U.S. State Department has threatened China with sanctions because of its continued imports of Iranian oil—a move that was only to be expected but hardly the wisest one amid still high trade tensions between the two countries. “We’re going to zero [exports of Iranian crude] and … countries that don’t abide by US sanctions will face repercussions for not abiding by US sanctions,” S&P Global Platts quoted a State Department spokeswoman as saying. “That goes for China or any other country in the world. We expect all countries to abide by US sanctions.” China is importing Iranian crude at a rate of 150,000 to 220,000 bpd despite the end of sanction waivers the U.S. had initially granted to Iran’s eight largest oil clients. China has from the beginning said it would not comply with U.S. sanctions on Iran and would continue importing Iranian crude, unlike India, which initially […]