My Way News - Asian economies look to keep Iranian oil flowing
My Way News reports: "China, the biggest buyer of Iran's oil, has publicly rejected U.S. sanctions aimed at Tehran's energy industry while American allies Japan and South Korea are scrambling to find a compromise to keep critical supplies flowing [...] The sanctions approved by President Barack Obama on New Year's Eve have higlighted the importance of Iranian oil supplies to East Asia's energy-hungry economies [...] China buys nearly one-third of Iran's 2.2 million barrels a day in exports. Analysts say China would have a tough time replacing that supply."