(Washington Post) David Ignatius - China is vulnerable to Iranian oil pressure because it imports 540,000 barrels per day from Iran. So the Saudis and Emiratis have been assuring Beijing that they would be prepared to offset any shortfall in Iranian crude shipments. The UAE has already boosted its oil exports to China as part of this pressure campaign. Shipments have increased from about 50,000 barrels per day last year to 120,000 now, with a goal by year-end of up to 200,000 barrels. Over the next few years, the UAE is offering to increase that export volume to China to about 500,000 barrels per day, which would nearly equal the current Iranian total. Prince Saud al-Faisal, the Saudi foreign minister, traveled to China last week to enlist its support against Iran. The Saudi message to Beijing, according to one U.S. official, is: "If you don't help us against Iran, you will see a less stable and dependable Middle East."
2010-03-08 09:39:03Full ArticleBACK Visit the Daily Alert Archive