Iran's oil shipments to China triple in 3 years despite sanctions

Adam Lucente

Jul 31, 2023

This aerial photo taken on August 4, 2019 shows tugboats berthing an oil tanker at Qingdao port in Qingdao in China's eastern Shandong province. - China's good shipments abroad beat expectations to rise in July while its purchases continued to shrink, official data showed on August 8. (Photo by AFP) / China OUT (Photo by STR/AFP via Getty Images) — This aerial photo taken on Aug. 4, 2019, shows tugboats berthing an oil tanker at Qingdao port in Qingdao in China's eastern Shandong province. — AFP via Getty Images

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.