Will China Be Hit? US Weighs New Iran Sanctions

The Trump administration is considering new sanctions on Iran, a move that could put China’s oil purchases in the spotlight. The potential measures come as a blockade of the Strait of Hormuz squeezes global oil flows and keeps pressure on US gasoline prices. Axios Business Reporter Nathan Bomey told Bloomberg This Weekend that Washington could target companies or countries that continue doing business with Iran. That focus, he said, may specifically draw attention to China and its imports of Iranian crude oil. The administration has not confirmed which entities would be named under the new sanctions.