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Timothy O'Toole Quoted on Renewed Iran Sanctions, Possible Benefits for China in the Financial Times

Subtitle
"China Poised to Profit as Europe Companies Feel Iran Pain"

Financial Times

Timothy O'Toole was quoted regarding the impact of renewed Iran sanctions on European and Chinese companies doing business in Iran. "Will Chinese companies fear the US secondary sanctions [on entities doing business with Tehran rather than Iranian groups themselves] sufficiently to stop dealing in Iranian oil? I tend to doubt it, as I believe they will likely view the risk of US enforcement as low," O'Toole said, adding that Chinese groups had "less connection with the US generally [than European groups and] less connection with the US financial system in particular."

Mr. O'Toole comments were cited in Newsweek's May 30 article, "China May Get World's Largest Gas Field Because of U.S. Sanctions Against Iran."