Iran-US conflict: 'Thanks to China that oil prices are not above $200'

Dr. Trita Parsi, co-founder and executive vice president of the Quincy Institute for Responsible Statecraft, tells CGTN Europe that sweeping US secondary sanctions targeting China could provoke a wider confrontation and destabilize the global economy. He credits China's sharp reduction in demand for Persian Gulf oil with helping keep prices below $100 a barrel instead of soaring beyond $200.

Parsi argues that the new sanctions may increase pressure on Iran but are unlikely to fundamentally alter the conflict, while countries with less ability to resist US pressure, such as Iraq, could bear much of the economic cost. He warns that tougher measures could trigger Iranian retaliation against regional economic targets and says de-escalation requires renewed negotiations over the Strait of Hormuz, the conflict involving Lebanon, Iran's nuclear program and sanctions relief.

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