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Thu, December 13, 2018, 03:53

News Agency - Detail

  • China to continue importing Iran`s oil
  • 07:35 (Friday, August 10, 2018)
  • According to two officials familiar with Washigton-Beijing negotiations, US has been unable to persuade China to cut import Iran`s oil.
  •  According to two officials familiar with Washigton-Beijing negotiations, US has been unable to persuade China to cut import Iran`s oil.

    US urges other countries to cut Iran’s oil import in order to isolate the Islamic Republic after Washington’s withdrawal from the 2015 nuclear deal.

    Beijing agreed not to ramp up purchase of Iranian oil, according to the officials, who asked not to be identified. That would ease concerns that China would work to undermine U.S. efforts to isolate the Islamic Republic by purchasing excess oil.

    Envoys of US government have been visiting to other countries around the world to persuade them not to buy Iran`s oil by early November when U.S. sanctions are due to snap back into effect. Despite the US administration announced that wants to cut Iran`s oil export to zero by November 4, most analysts viewed that target as unlikely.

    Trump administration has warned that even if US allies cannot show their progress to decrease purchase of Iran`s oil by November 4, they will be faced with sanctions.

    Analysts from “BMI Research” and “Mizuho Securities” are predicting that China might boost its import of cheap supplies from Iran and offset cuts by other nation.

    China as the biggest consumer of Iran`s oil, has already said that it was opposite to unilateral sanctions and increased Iran`s oil imports in July to 26 percent.

    According to shipping data which collected by Bloomberg, China bought 35 percent of Iran`s oil export last month.

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