The Iran nuclear deal is likely to provide big benefits to one of its brokers—China—giving Beijing greater room to ramp up Iranian oil imports as part of a global buying binge. For years, the U.S. threatened to punish countries that didn’t reduce crude imports from Iran, forcing China’s government and oil companies to walk a tightrope between rising Chinese energy demand and displeasing Washington. While Beijing publicly opposed the U.S. moves, China also cut its Iranian oil imports in 2012 and 2013, boosting U.S. efforts to isolate Iran’s economy. China and Iran had already begun ramping up their oil trade ahead of Tuesday’s deal between Tehran, Washington and five other governments, including Beijing. China on average bought more barrels a day from Iran in the first five months this year than before U.S. efforts to isolate Tehran intensified. Over time new Chinese investment in energy and infrastructure there could […]