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Iran's Oil Sales to China Plummet

(Iran International) Dalga Khatinoglu - After the Chinese government banned sanctioned oil tankers from entering Shandong port - China's largest terminal for Iranian oil - China's imports of Iranian crude fell by more than half in January. The Biden administration imposed sanctions on dozens of tankers carrying Iranian oil after Iran's missile attack on Israel in October. But the real blow came in response to potential U.S. sanctions under the Trump administration. Data from the French analytics firm Kpler shows that Iran's oil deliveries to China fell below 850,000 barrels per day in January, compared to over 1.8 million barrels per day last October. The Iranian rial has also suffered a sharp devaluation since last October, with the U.S. dollar surging from 600,000 rials to 900,000 rials.
2025-02-20 00:00:00
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