The Sequential Elimination of China’s Cheap, Sanctioned Oil Sources

Commentary In recent weeks, the United States has disrupted two of China’s major sources of deeply discounted, sanctions-constrained crude in rapid succession. The first shock came when then-Venezuelan President Nicolás Maduro was captured in a U.S. raid on Caracas on Jan. 3, followed by an intensified U.S. blockade targeting sanctioned vessels moving Venezuelan oil. The […]