China Is Taking Advantage Of Western Sanctions On Russia

When the Trump administration slapped sanctions on Venezuela and Iran, China became the largest buyer of these countries’ crude oil despite repeated warnings by Washington officials—and not just warnings but action, too—that there is such a thing as secondary sanctions. Now, China has also become an even bigger buyer of oil from the world’s biggest exporter, incidentally the subject of not just U.S. but European Union sanctions, too. And while oil prices for most of the world are rising, for China, they are falling. Bloomberg…