China, Iran’s Biggest Oil Customer, Gets Last-Minute Sanctions Exemption From Obama Administration?
China’s imports of Iranian oil did decline substantially between January and May this year, compared with the same period last year, although the drop was attributed, at least in part, to a contract dispute between China’s state-controlled Sinopec and Iran’s National Iranian Oil Co.
That dispute was resolved towards the end of March this year, and Chinese customs data released last week showed that China’s imports of Iranian crude rose again by 34.5 percent between April and May.
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