Is Taiwan The Only Leverage The U.S. Has In Getting China To Toe The Line In Iran? | OilPrice.com Simon Watkins Simon Watkins is a former senior FX trader and salesman, financial journalist, and best-selling author. He was Head of Forex Institutional Sales and Trading for… More Info Premium Content By Simon Watkins – Aug 31, 2026, 10:00 AM CDT China has emerged as a major beneficiary and swing player in the current oil crisis, using massive inventory drawdowns and sharply lower crude imports to help suppress global prices. Washington’s new “Economic D-Day” sanctions aim to isolate Iran completely, including…