Sanctions Are Tangling, Not Stopping, China’s Iran Oil Trade
- US has added entities, ships, individuals to its blacklist
- Washington can still apply further pressure to curb flows
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Successive rounds of sanctions on companies and tankers said to be aiding Tehran are finally slowing the flow of Iranian oil to China, as costs rise and more traders are compelled to engage in risky efforts to circumvent US measures.
In recent weeks, shipments have been disrupted by a spate of seller defaults, according to executives at Chinese private refineries, the buyers of most of Tehran’s cargoes. While they said no specific reason was provided, they blamed logistical challenges and higher expenses snarling the supply chain.