U.S. Enlists Oil to Sway Beijing’s Stance on Tehran
From Wall Street Journal:
The Obama administration is encouraging key Arab states to boost oil exports to China in order to reduce Beijing’s reliance on Iranian energy and pare Chinese resistance to tougher sanctions over Tehran’s nuclear program.
The administration’s strategy has yielded a gain: in a step coordinated with Washington, the United Arab Emirates recently agreed to boost oil exports to China to between 150,000 to 200,000 barrels a day from a current level of 50,000 over the next six months, according to U.S. and Emirati officials.
A senior Emirati official said Abu Dhabi plans to make a significant additional increase “within the next three years.”
Saudi Arabia, long at odds with Tehran, also appears prepared to offer China more oil to make up for any losses it incurs as part of an international effort to punish Iran, according to people familiar with Saudi thinking.