Tensions between Washington and Beijing could soon peak if China positions itself to defy President Trump’s repeal of Iranian oil sanctions waivers. On Saturday, noted Chinese analysts said that China might not submit to U.S. sanctions pressure over its Iranian oil imports because Iran is a key investor in China’s Belt and Road Initiative as well as a key energy partner. Two weeks ago, the Trump Administration surprised both domestic and international energy markets players and watchers when it refused to extend 180-day waivers for Iranian oil first put in place in November. Washington also said it would place sanctions on any country that continues to buy Iranian oil after May 2. Japan, China, India, South Korea, Taiwan, Italy, Greece, and Turkey – all of Iran’s biggest oil clients – were initially granted 180-day waivers. As a result of the U.S. move, London-traded, global oil benchmark Brent crude breached […]