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China defies US sanctions against Iranian oil, extends economic lifeline

CHINA is buying Iranian oil despite US sanctions placed on Iran's oil exports, providing what Tehran hopes will be a lifeline for the country's shrinking economy, says London's Financial Times

China defies US sanctions against Iranian oil, extends economic lifeline

CHINA is buying Iranian oil despite US sanctions placed on Iran's oil exports, providing what Tehran hopes will be a lifeline for the country's shrinking economy, says London's Financial Times

08 July 2019 - 19:00

CHINA is buying Iranian oil despite US sanctions placed on Iran's oil exports, providing what Tehran hopes will be a lifeline for the country's shrinking economy, says London's Financial Times.

China has received their first delivery of an Iranian oil cargo since the Trump administration in May scrapped exemptions on Iranian sanctions, said the report.



TankerTrackers, which monitors flows of oil through satellite signals and imagery, said the Iranian-flagged 164,154-dwt tanker Salina, carrying a million barrels - had docked in Jianzhou Bay, near Qingdao on June 20.



Oil sales are a crucial part of Iran's efforts to resist the 'maximum pressure' campaign of financial sanctions launched by the US after it pulled out of a landmark nuclear deal last year. Last week, Washington imposed a new round of sanctions on the Islamic republic and its leader Ayatollah Ali Khamenei.


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