China still Importing Iranian Oil despite US Sanctions

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China’s still importing oil from Iran weeks after the US imposed sanctions aimed at halting sales of crude from the Persian Gulf nation.

Official customs data on Friday showed China imported 855.638 tons in June. the equivalent of about 209.000 barrels a day. While that’s less than in May and the lowest since mid-2010. the data adds to speculation that Beijing may risk running afoul of American sanctions to secure crude supplies from the Islamic Republic. Bloomberg reported.

China imported about 494.000 barrels a day of Iranian crude in the first five months of this year. compared with more than 660.000 barrels a day in the same period in 2018.

Iran stresses that it will continue oil exports despite all pressures. Deputy Oil Minister Amir Hossein Zamaninia said in early May that Iran has mobilized all its resources to sell oil in a `grey market`. to circumvent illegitimate US sanctions against the country.