Published on: 15.01.2023 – 14:06
Iranian oil exports broke a new record in November and December 2022. And that despite Washington’s sanctions against Tehran. China is one of the largest importers of Iranian oil. It is the result of an economic partnership between the two countries that was launched last year.
According to the oil market specialist completeIranian crude oil exports totaled 1.23 million barrels per day in November 2022. They have almost reached the level of 2019.
first partner
Beijing, which regularly denounces American sanctions, was already Tehran’s leading economic and trading partner and its largest oil customer. But falling Chinese demand due to the zero-Covid-19 policy and competition from Russian crude have threatened Iranian supplies for some time. The flow of Iranian tankers has since resumed.
record imports
Recipient countries include Venezuela, where Iran refines its crude oil, but most notably China. To avoid problems with Washington, Iranian crude oil continues to flow into China, officially as coming from other countries. It is estimated that Chinese imports of Iranian black gold broke a record 1.2 million barrels per day in December, up 130% in a year.
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