China Cuts Iran Oil Purchases Ahead of U.S. Sanctions

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China is cutting some of its oil trade with Iran after vowing for months to resist U.S. sanctions on the exports, providing Washington with an unexpected boost to its efforts to isolate the Islamic Republic.
The move comes as Saudi Arabia, seeking to damp a foreign-relations crisis, said this month that it would increase oil supply, pushing down prices and giving traders further options outside Iran.

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