Trump Could Push Iran Closer to China If Sanctions Are Renewed

Donald Trump’s resentment of the Iran nuclear deal could help China’s oil ambitions.

The U.S. president will have to decide this month whether to renew a waiver that lifted banking, oil and shipping sanctions on OPEC’s third-biggest producer. Should Trump reimpose sanctions on dollar-denominated business with Iran, it could force the Islamic Republic to move closer to China to ensure it can continue shipping its oil, said Bjarne Schieldrop, chief commodities analyst at SEB AB.