Chinese Imports Helping to Boost Sanctioned Iranian Oil Shipments, Report Says
Chinese imports are helping grow sanctioned Iranian oil production to its highest levels in nearly two years, the Wall Street Journal reported April 15. The Journal, citing the International Energy Agency, said China has boosted its Iranian oil purchases to…
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600,000 barrels a day, which is five times higher than in the first nine months of 2020. The report said Chinese buyers appear to have increased their purchases after the U.S. election of President Joe Biden, who vowed a return to the Iranian nuclear deal, an agreement that had suspended certain sanctions against Iran. A U.S. lawmaker last week asked the State Department to provide information on whether China is violating U.S. sanctions on Iran (see 2104140053).