11  December  2018

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 Infopetro -> Industry in Focus


China to Buy Even More Iranian Oil in Spite of U.S. Sanctions

  07/19/2018

China is throwing a monkey wrench in U.S. efforts to punish Iran through sanctions by purchasing ever-increasing amounts of crude from the middle eastern country.

The U.S. slapped sanctions on Iran due to its belief that it is acting improperly behind the scenes following the signing of a nuclear non-proliferation deal during the Obama administration.

Some European countries bristled at the U.S. unilateral decision to exit a 2015 deal with the country, but some countries have also begun winding down their purchase of Iranian oil.

However China is stepping in to blunt the impact of those departures buy upping the amount of crude it is purchasing, a senior U.S. government energy official told the Wall Street Journal.



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