'China's Greenlight on Iranian Oil: Shift in U.S. Sanctions'

President Donald Trump has revealed a significant shift in U.S. foreign policy, allowing China to continue purchasing Iranian oil. This decision follows a ceasefire agreement between Israel and Iran, a move that analysts say suggests a more relaxed approach to enforcing U.S. sanctions.

Trump's announcement comes after recent U.S. bombings of Iranian nuclear sites and marks a departure from his previous policy of imposing heavy sanctions to reduce Iran's oil exports to zero. The decision to allow China's purchases could exert bearish pressure on global oil prices, with markets already reacting with a notable 6% fall.

While a full sanction waiver remains unlikely, the development underscores a policy recalibration. Experts note that any suspension of sanctions would require intricate inter-agency coordination. Meanwhile, China's increased Iranian oil imports could potentially strain U.S.-Saudi relations and Washington's broader Middle Eastern strategy.

(With inputs from agencies.)