Comments by China's commerce ministry

  • China and Iran engages in a mutually beneficial oil trade cooperation based on commercial factors
  • Relevant conditions are open and transparent and can be determined through public channels

China is the biggest purchaser of Iranian oil, and by the looks of it they are going to continue to do so. The ministry did not clarify whether or not they will be cutting back or carrying on with imports from Iran, but from the comments here it looks like they are siding with the latter more than the former.