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🇸🇦 Saudi Arabia /Health & Science

Saudi Arabia, France Sign MoU to Boost Health Cooperation

From Asharq Al-Awsat · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • The US administration has threatened economic consequences for countries trading with Iran.
  • China, Iran's largest trading partner, imports a significant amount of Iranian oil but could absorb the impact of sanctions.
  • India has reduced trade with Iran due to US pressure but recently resumed oil imports under a waiver, while the UAE has halted all transactions with Iran.

The Trump administration is wielding the threat of "tremendous economic consequences" against nations doing business with Iran, as new sanctions aim to further isolate Tehran. Treasury Secretary Scott Bessent announced a package of measures designed to cripple Iran's global economic ties.

It wouldn’t be catastrophic for China if it was to have its trade or its ability to import Iranian oil impacted.

— William FigueroaAn expert in Chinese-Iranian relations at the University of Groningen, commenting on the potential impact of US sanctions on China's trade with Iran.

China, identified as Iran's largest trading partner and primary oil consumer, faces potential repercussions. Despite buying up to 90% of Iran's oil exports in the past, China's overall economy is vast enough to withstand impacts from sanctions, according to experts. While Beijing benefits geopolitically from preserving the Iranian regime as a counter to the US, the volume of oil imported from Iran is considered marginal and easily replaceable.

India, once a major energy supplier for Iran, has significantly reduced its trade under US pressure. Bilateral trade has plummeted from over $17 billion in 2018-19 to an estimated $1.63 billion in the 2025-26 financial year, with India ceasing oil purchases in 2019. However, a recent 60-day US Treasury waiver allowed India to resume crude oil imports from Iran for the first time in seven years, aimed at stabilizing energy prices amid global disruptions.

Beijing has some interest in preserving the Iranian regime as a thorn in the side of the United States.

— Andrea GhiselliA political scientist specializing in China at the University of Exeter, explaining China's geopolitical interests in its relationship with Iran.

The United Arab Emirates also appears vulnerable to US threats. Esfandyar Batmanghelidj, CEO of the Bourse & Bazaar Foundation, noted the UAE's potential exposure. Preempting potential US actions, the UAE announced on Wednesday a complete halt to all trade and financial transactions with Iran.

it can easily be swapped out

— Andrea GhiselliReferring to China's ability to find alternative sources for Iranian oil imports.
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Originally published by Asharq Al-Awsat. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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