|
Trending Topics
|
Source: http://online.wsj.com/article/SB125590100370392905.html
U.S. Enlists Oil to Sway Beijing's Stance on Tehran
[Wall Street Journal] Jay Solomon - 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. In a step coordinated with Washington, the UAE 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. 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. Beijing is the second-largest buyer of Iranian oil.