Economics
China's Still Taking Iran Oil Weeks After U.S. Toughens Sanction
- Asia’s No. 1 crude importer buys almost 860,000 tons from Iran
- Oil flows continue even though volumes fall to a nine-year low
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China’s still importing oil from Iran weeks after the U.S. imposed sanctions aimed at halting sales of crude from the Persian Gulf nation.
Official customs data on Friday showed China imported 855,638 tons in June, the equivalent of about 209,000 barrels a day. While that’s less than in May and the lowest since mid-2010, the data adds to speculation that Beijing may risk running afoul of American sanctions to secure crude supplies from the Islamic Republic.