TEHRAN ( WNAM MONITORING): A Western media report has said that the newly intensified sanctions against Iran are not going to stop Iranian oil exports to China but they are just squeezing the trade.
Successive rounds of sanctions on companies and tankers said to be aiding Tehran are finally slowing the flow of Iranian oil to China, as costs rise and more traders are compelled to engage in risky efforts to circumvent US measures, Bloomberg reported.
In recent weeks, shipments have been disrupted by a spate of seller defaults, according to executives at Chinese private refineries, the buyers of most of Tehran’s cargoes. While they said no specific reason was provided, they blamed logistical challenges and higher expenses snarling the supply chain.
Some Iranian tankers have been sanctioned en route to their destination, the executives said, adding to the disarray. They asked not to identified as the discussions are private.
Trade with China, by far its largest oil buyer, has long been a financial lifeline for Tehran, and one that Washington has increasingly been focused on severing. After the latest rounds of sanctions on tankers, owners, brokers and traders, the US blacklist now covers more than two-thirds of the approximately 150 vessels that handled the shipments of Iranian crude in 2024, according to data analytics firm Kpler.
China does not recognize unilateral sanctions and has repeatedly defended its right to trade with Iran. But the realities of the vast US financial system mean ports and shipping companies with links outside the mainland are reluctant to risk dealing with sanctioned entities and vessels, especially as US President Donald Trump promises tougher enforcement.
Earlier this year, Shandong Port Group — which serves a province that is a hub for private refiners — urged operators to reject blacklisted tankers.
