Chinese Regime Condemns, and May Profit From, EU's Iran Oil Embargo

Chinese oil traders stand ready to profit over the Iranian regime's sudden need to radically adjust its export framework.

China's Communist leaders have firmly rejected the US-led international embargo on Iran over its nuclear weapons program and other provocations. Iranian oil exports now have radically fewer target markets, and, analysts say, the country's authorities will need to make more extensive use of "stable" consumers like China.

All of this could lead to a deeper relationship between Chinese and Iranian oil companies, as well as a significantly increased volume of overall trade between the two countries.

Chinese regime premier Wen Jiabao has recently called multi-nation nuclear talks on Iran's alleged weapons program a "top priority." Yet it now must be seen whether Chinese support for the international effort to prevent Iranian nuclear weapon capability grows, or diminishes, in the face of new incentives to deepen ties with the religious regime.