All,

Here’s ISW’s latest on the PRC/Taiwan and Iran

https://understandingwar.org/research/china-taiwan/china-taiwan-update-april-10-2026/

As you read this, note that the PRC:

• Iran’s largest customer
• Buys ~80% of its oil from Iran at below market
• Will feel economic pain if it has to buy oil at market prices
• Was heavily involved with shadow tankers
• Has limited crude oil stocks on hand within the PRC
• Recently shipped three boatloads of solid rocket fuel precursors to Iran on Iranian flagged ships which were not, for reasons only known to the pentagon, intercepted

This is speculation, but I suspect Xi had a hand in this. The PRC is the largest weapons supplier to Pakistan, is Iran’s best supplier of weapons and has a relationship with the U.S. Xi can call Trump and he will take the call.

Marc Liebman

https://www.marcliebman.com

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