Uncovering the Chinese Purchasers of Iranian Oil [UPDATED February 29, 2024]March 01, 2024
China is principally responsible for keeping the Iranian regime in business through oil purchases that have totaled over $90 billion since President Biden assumed office in January 2021 to December 2023. Four in every five barrels of exported Iranian oil go to China. This is despite U.S. sanctions that were reimposed in 2019 and maintained under the present administration, with the stated aim of reducing Iranian oil exports to zero. China has proven the savior of Tehran by continuing to import millions of barrels of oil every single day, and imports have likely even exceeded those made when the trade was not subject to U.S. sanctions.
While UANI has pinpointed more than 300 foreign oil-carrying “Ghost Armada” ships facilitating the trade, it has been difficult to identify the specific buyers. However, starting [DATE], UANI obtained documentation offering major insights into the demand side of this illicit and uniquely lucrative trade. This resource provides granular and regularly updated information on the Chinese purchasers of Iran’s oil.
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