China is Iran’s biggest oil buyer. No wonder they don’t want to lose that flow. But Putin says I have plenty for you brother if needed.
The ONLY reason China is/was buying Russian, Iranian and Venezuelan oil is because they were willing to sell it CHEAPER than any other producers.
We and the Euros put a tariff on Russian oil. So, Russia made deals with China and India to sell it at a 30% discount.
We made it so Iran couldn’t sell its oil on the world market. So, they had to sell it at a discount to China or Turkey or who ever would buy it.
Then we did the same to Venezuela(Citgo) to some extent.
When China knows that they are the biggest BUYER, they can negotiate a better price.
Putin was already selling it to them on the sly. So, no change there.
CC