J. MICHAEL WALLER: As much as 90% of Iran’s oil experts went to 🇨🇳. The ChiComs bought the sanctioned oil at a steep discount. Loss of that discounted oil, on top of the loss of Venezuela’s discounted oil, will place massive internal pressures on the Chinese Communist Party.

As much as 90% of Iran’s oil experts went to 🇨🇳. The ChiComs bought the sanctioned oil at a steep discount.

Loss of that discounted oil, on top of the loss of Venezuela’s discounted oil, will place massive internal pressures on the Chinese Communist Party. https://t.co/LIdOBls0RC

— J Michael Waller (@JMichaelWaller) February 28, 2026

Peter St Onge writes, 

Apparently China buys "over 90%" of Iran's oil exports. China was buying nearly 70% of Venezuela's.

Neither were being paid in dollars.

This is the real power play by Trump and Rubio.

They are cutting off China’s cheap oil supply.

1) Venezuela 800,000 bpd that was going to China, now goes to Texas refineries.

2) Iran 1.2 million bpd was going to China at a big discount. That is finished.

— Wall Street Mav (@WallStreetMav) February 28, 2026