China gobbles record amounts of Iranian oil as Tehran’s exports reach new highs

Lloyd's List

…According to UANI, six tankers joined the sanctions trade in August, bringing the total of ships spotted lifting Iranian cargoes since November 2020 to 350. “The key to understanding this oil export surge lies in the relaxation of sanctions enforcement by the Biden administration, particularly to China,” UANI’s chief of staff Claire Jungman and research director Daniel Roth said in a report. “This approach has opened avenues for Iran to revive and significantly increase its exports.”