China ‘still buying 90% of Iranian oil’ despite US sanctions waiver

Policy organisation United Against Nuclear Iran, which is chaired by former Florida governor Jeb Bush, noted that the US previously imposed “strict ringfencing” on payments for Iranian oil after the Trump administration withdrew from the Iran nuclear deal in 2018. Funds would have to be deposited into restricted accounts in the buyers’ domestic banking system and were not freely transferable to Iran. United Against Nuclear Iran argued the latest waiver “should be understood as operating within the same framework”.