Iran's oil exports to China continues despite US sanctions
China’s still importing oil from Iran weeks after the US imposed sanctions aimed at halting sales of crude oil from the Persian Gulf nation.
The export of Iranian oil to China continues while Washington is monitoring Iranian oil shipments and last week imposed sanctions on a Chinese company for transporting Iranian oil.
U.S. Secretary of State Mike Pompeo said on 22 July that Chinese company Zhuhai Zhenrong and one of its executives knowingly violated US sanctions banning the import of Iranian oil.
China is buying Iranian oil in defiance of US sanctions.
Beijing customs data show China still importing Tehran’s oil despite US measures designed to cut Tehran's exports to 'zero'.
Iran stresses that it will continue oil exports despite all pressures. Deputy Oil Minister Amir Hossein Zamaninia said in early May that Iran has mobilised all its resources to sell oil in a 'grey market', to circumvent illegitimate US sanctions against the country.
Oil sales are a crucial part of Iran’s efforts to stand against the 'maximum pressure' campaign of financial sanctions launched by the US after it pulled out of a landmark nuclear deal last year.
The deliveries of Iranian oil to China come as Beijing wrestles with Washington over trade, with the world’s two largest economies fighting over tariffs, access to each other’s markets and the role of the US in extending sanction threats to countries that deal with its adversaries.
Despite US sanctions, our oil refineries have been operating with high capacity over the last year, and this week, Iran's gasoline production exceeds 110 million litres per day, which is the highest historical figure.
END