Iran’s oil exports to China have tripled in the past three years, a data analytics firm said on Monday, despite Western sanctions that are imposed on the country.
Iran’s crude oil shipments to China amounted to an average of approximately 324,000 barrels per day in 2020, and rose to approximate averages of 584,000 and 770,000 bpd in 2021 and 2022, respectively. That figure has reached an average of around 1.1 million bpd from January through July of this year, according to the London-based Kpler.
Press TV, Tasnim News Agency and other Iranian media also reported the figures.
Why it matters: Iran is becoming increasing reliant on China amid its economic struggles and international isolation. Ties have significantly strengthened since the United States withdrew from the nuclear deal in 2018 and reimposed sanctions on Iran, according to a July report from the United States Institute of Peace.