“They look to Iran as a major source of future oil supplies,” said James Placke, a senior associate at Cambridge Energy Research Associates who specializes in the Middle East. “They’d have to go through a substantial policy reversal, and I’d be surprised if they did that.”…

The Chinese rely on Iran for 15% of their oil imports. Moreover, China has been investing heavily in the country as it looks to lock up resources for its growing economy. Meanwhile, interest from Japanese, European and Canadian firms wanes in the face of U.S pressure. State-run Chinese oil firms are now thought to have deals worth over $100 billion with Iran.

And even though the Russians have signaled a recent willingness to step up sanctions – perhaps due to Obama’s plans to scrap a missile defense system in Central Europe – it’s thought that they’re still not willing to go after Iran’s energy sector.