China & Iran JUST SHUTDOWN All US Oil Sanctions DESTROYING The US Economy!

SUPPORT US BY BUYING ME A COFFEE To comprehend the magnitude of this unprecedented event, we must first journey through history. The United States, a global superpower, has historically employed its economic and military might to wield influence over global politics, with sanctions being one of its most potent tools. Iran, in particular, has been a target for decades, with sanctions primarily focused on its nuclear program and human rights abuses. These punitive measures have systematically crippled Iran’s oil industry, which forms the backbone of its economy. China, on the other hand, has been on an astonishing economic ascent, surpassing many developed economies in terms of growth and influence. Its insatiable demand for oil to fuel its industries and vast urban conglomerates led it to explore new partnerships and collaborations. Iran, with its vast oil reserves, emerged as an attractive partner, sparking a transformative alliance. As you may know, Iran and China are two of the most powerful adversaries of the US in the global arena. Both countries have been subject to harsh economic sanctions by the US and its allies, aimed at curbing their nuclear ambitions and regional influence. However, instead of succumbing to the pressure, China and Iran have found ways to circumvent the sanctions and benefit from their mutual cooperation, especially in the oil sector. China is the world’s largest oil importer and consumer, while Iran is one of the largest oil producers and exporters. Despite the US withdrawal from the 2015 nuclear deal and the reimposition of sanctions on Iran’s oil exports in 2018, China has continued to buy Iranian oil, often at discounted prices and through covert channels. According to a Bloomberg article¹, China imported a record 856,000 barrels per day (bpd) of Iranian crude in August 2023, making Iran its third-largest supplier after Russia and Saudi Arabia. The article also claims that Iran has been using a network of intermediaries and covert shipping methods to evade the US sanctions and sell its oil to China, its biggest customer. the US faces a dilemma of either accepting Iran’s oil trade with China or escalating the pressure on both countries, which could have unintended consequences. US may have to reconsider its sanctions policy and engage in diplomatic dialogue with Iran and China, as well as other stakeholders, to resolve the nuclear issue and restore stability in the Middle East. Over the years, China has also been undermining the US sanctions on Venezuela, another major oil producer and exporter. China has been lending billions of dollars to Venezuela in exchange for oil, as well as buying Venezuelan bonds and assets, in order to secure its energy and strategic interests in the region. China has been using a similar strategy as with Iran, such as using intermediaries and covert shipping methods, to evade the US sanctions and import Venezuelan oil. China and Venezuela have been cooperating to maintain their economic and political ties. For example, China has been using its state-owned and private companies, such as CNPC and Reliance Industries, to buy and process Venezuelan oil. China has also been using its banks and insurers, such as ICBC and China Export and Credit Insurance Corporation, to provide loans and guarantees for Venezuela. the US sanctions have failed to achieve their intended goals of ousting President Nicolas Maduro and restoring democracy in Venezuela. the US may have to rethink its sanctions policy and engage in multilateral dialogue with China and other regional actors, such as Mexico and Colombia, to address the Venezuelan situation and promote a peaceful transition. China has saved nearly $10 billion in the first nine months of 2023 by buying oil from these countries, often at discounted prices and through covert channels. What made the circumvention of US sanctions possible? China, with its state-of-the-art technology and expansive Belt and Road Initiative, was well poised to establish alternative trade routes and financial systems. The Chinese were not merely interested in buying oil; they sought a comprehensive economic partnership encompassing infrastructure development, technology transfer, and military cooperation. Iran, with its economy in tatters due to the sanctions, saw the Chinese proposition as a lifeline. Both nations acknowledged the risks, especially the potential ire of the US, but the rewards, both economic and geopolitical, appeared to outweigh the risks. #china #chinanews #chinasemiconductor #relaxian #Iran #iranchina