Sanctions? What sanctions?

Following up on last week's $4.7 billion contract to develop a gas field, the Chinese National Petroleum Corporation has entered into a $2 billion contract to drill for oil at the Azadegan oil field in Iran, one of the largest in the world. The announcement says CNCP is waiting for approval from Iran to implement the deal to produce 75,000 barrels of oil per day from the north field over the next