How China could benefit as US-Iran talks raise hopes of oil sanctions relief

AI Summary

A potential diplomatic breakthrough in US-Iran talks could lead to the easing of oil sanctions on Iran, benefiting China, the main buyer of Iranian oil. Proposed deals include a 60-day ceasefire extension and reopening of the Strait of Hormuz.

A major diplomatic breakthrough between Washington and Tehran could signal sanctions relief for Iran, a development analysts say bodes well for China, the primary buyer of Iranian oil. Negotiations have advanced on a proposed 60-day ceasefire extension, the reopening of the Strait of Hormuz and the US side issuing temporary sanctions waivers that would allow Iran to sell oil freely, Axios reported on Saturday, citing a US official. Any such relief would only be implemented under a final...