China to continue oil imports from Iran despite U.S. pressure

   U.S. Treasury Secretary Tim Geithner is visiting China this week. While he is expected to pressure the Chinese to reduce imports of Iranian oil, he is unlikely to have much effect.
   The Chinese vice-foreign minister said that although China supported non-proliferation of nuclear weapons that this was a separate issue from trade. He said:“The normal trade relations and energy cooperation between China and Iran have nothing to do with the nuclear issue,”
  China imports up to 11 per cent of its oil from Iran, and Iran depends upon China for about a third of its oil exports. However, of late imports have slowed because of disputes about credit and price. No doubt given the lack of markets for Iranian oil because of sanctions China hopes the price will go down. For more see this article.