THE United States decision to reimpose sanctions on Iran could scare off European investors but oil-thirsty China may step into the void and ramp up business links with the country. The Iran deal has been highly profitable for the Asian giant. Iran is China’s fifth top oil supplier, with more than a quarter of its output going to Beijing. The price of Iranian oil is likely to fall as its pool of buyers shrinks, Shum said, making it “more attractive” to the Chinese. “China needs to learn from the past: it invested heavily in Libya and Venezuela, and lost a lot.” --AFP

Source: New Strait Times May 18, 2018 21:33 UTC