Harming Iran’s oil exports to China is ‘dramatic blow’

Harming Iran’s oil exports to China is ‘dramatic blow’

Iran remains heavily dependent on oil revenues, which constitute 60-70% of its state budget. By Yaakov Lappin, JNS A series of recent American sanctions targeting Chinese petroleum facilities serves as a reminder of China’s critical role in sustaining Iran economically through the massive purchases of oil. This trade, facilitated by a shadowy network of tankers, front companies, and transactions, helps provide Tehran with the financial means to …

U.S. Sanctions Target China's Role in Sustaining Iran’s Oil Economy - Iran News Update

A recent wave of U.S. sanctions on Chinese oil-related entities underscores Beijing’s crucial role in propping up Iran regime’s sanctions-hit economy through large-scale crude oil purchases. Despite international pressure, this clandestine trade continues to provide the Iranian regime with a vital financial lifeline. At the heart of this commerce is a shadowy network of tankers, shell companies, and opaque transactions. This system enables Tehra…