China Boosts Iran's Economy Amid US Sanctions, Foiling Trump-Netanyahu Plan

• China shifts oil purchases to Iran and Russia after US secures Venezuelan crude, impacting Beijing's supply.
• Iranian heavy crude offers a cheap alternative, priced $10/barrel below Brent, making it attractive for Chinese refineries.
• This move undermines US and Israeli efforts to economically cripple Iran through sanctions.
• Analysts predict Chinese refineries will fully transition to Iranian and Russian oil by March-April as Venezuelan stock depletes.
• Despite other options like Canada and Iraq, Iranian oil's economics and chemistry are ideal for China's 'teapot' refineries.

Why It Matters: US efforts to isolate Iran backfire as China's oil demand inadvertently strengthens Iran's economy.