Analysts flag sanctions ‘grey area’ for Chinese firms after U.S.-Iran initial deal sends oil prices sliding

Oil prices fell sharply after an initial deal between the United States and Iran raised expectations that restrictions on Iranian crude exports could ease. Analysts said there is no immediate sign that existing sanctions on Chinese companies tied to Iran-related business will be lifted. They added that, in theory, new purchases of Iranian oil would not trigger new sanctions, shifting supply-demand expectations toward looser conditions.