BEIJING – China has stopped buying oil from Iran after Washington announceda decision not to extend exemptions from its sanctions for certaincountries, the Wall Street Journal reported, citing sources in the Iranianoil industry.
According to Rahim Zare, who is a member of the economic commission of theIranian parliament, China, Greece, India, Italy, Japan, South Korea, Taiwanand Turkey, which were previously granted waivers, purchased from Iran atotal of 1.6 million barrels of oil daily in March, but have ceasedpurchases since.
“They are really abiding by the sanctions,” Zare said, as quoted by thenewspaper.
The newspaper noted that when a tanker belonging to China was loadedfrom the oil terminal on Kharg Island in Iran in mid-May, it was perceivedas the resumption of purchases of crude oil by Beijing. However, the tankersubsequently sailed to Indonesia, and at the moment remains off the coastof Iran in the Gulf of Oman, the newspaper said, citing maritime trackingresource FleetMon.
According to a source in the Iranian oil industry, since onshore tanks arefull, the vessel was used only for oil storage.
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Businessmen in Tehran also noted that Chinese companies were no longerbuying Iranian oil, the newspaper said.
At the same time, Iran has not yet lost hope of resuming sales to China. Aprivate Iranian trader, who last delivered Iranian oil to China two monthsago, said he was negotiating the sale of up to 2 million barrels to aChinese mini-refinery, but noted he had not yet received the approvalof the governments of the two countries.
Eight of Iran’s top oil customers were granted waivers that allowed themto temporarily continue buying Iranian oil. In April, the White Houseannounced that the United States would end waivers for oil sanctionson Iran as it seeks to bring the country’s oil exports to zero. The UnitedStates said the eight nations had agreed to dramatically reduce oil importsfrom Iran.
