After US-Iran accord and oil-price plunge, analysts warn of ‘grey area’ for Chinese firms

As plunging oil prices signal broad market optimism following an initial deal between the United States and Iran, attention has turned to whether Chinese firms sanctioned for Iran-related business will see immediate relief, though analysts remain cautious.“New purchases of Iranian oil ostensibly wouldn’t be subject to fresh sanctions, but at the same time, I imagine we won’t see a rush to lift existing sanctions on Chinese importers of Iranian oil,” said Lynn Song, chief economist for Greater China at ING.The market movement followed official announcements that Washington and Tehran had reached a preliminary accord to end their four-month war. A reported 14-point Persian-language draft memorandum of understanding showed the US committing to lift its maritime blockade, issue waivers for Iranian oil exports, and outline a pathway to broader sanctions relief – including primary and secondary measures – under a future final agreement.