Israel-Iran conflict revives China’s interest in Power of Siberia 2 — WSJ

Business & Economy June 25, 15:26

According to the report, the conflict in the Middle East has given Beijing reason to reconsider the reliability of the oil and natural gas it gets from the region, even as a fragile ceasefire between Israel and Iran takes hold

NEW YORK, June 25. /TASS/. The conflict between Israel and Iran has stirred up China’s interest in the Power of Siberia 2 gas pipeline, The Wall Street Journal (WSJ) reported, citing sources.

The conflict in the Middle East has given Beijing reason to reconsider the reliability of the oil and natural gas it gets from the region, even as a fragile ceasefire between Israel and Iran takes hold, the sources told the paper. This could lead to progress in the discussion of the Power of Siberia 2 project as China is much more interested in it now than previously, according to the publication.

More than 90% of Iranian oil exports currently flow to China though Washington is trying to prevent Tehran from doing so with its sanctions, the newspaper wrote. US President Donald Trump also said on Tuesday that China purchases oil from Iran. However, despite the ceasefire, Beijing is still interested in searching for alternative ways to deliver oil. This is why China also seeks to boost oil purchases from Russia, in which both Moscow and Beijing are interested, the publication said.

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