Could the EU's failures to protect the Iran deal present an economic opportunity for China?
The move was opposed by the EU, as well as China, and other world powers, but the EU’s objections were dismissed by the US.
“We strongly urge Iran to continue to implement its commitments under the JCPOA in full as it has done until now and to refrain from any escalatory steps,”The EU has been trying to implement payment structures that mitigate the impact of the US sanctions but these will not fully come into effect until the summer, and there has already been a decline in trade volumes in the billions, according to theBut Iranian patience as the Europeans struggle for workarounds is wearing thin.
However, according to a 2018 paper by the International Institute for Strategic Studies , it was unlikely Chinese companies would risk potential deals in orderAs a workaround, the paper states that China could use smaller companies unconnected to US markets, to carry out high value oil purchases.
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