“The expansion of US sanctions against tankers carrying Iranian oil has hit the trade chain with Chinese refiners, which consume 90% of Iran’s exports.”, — write: epravda.com.ua
The expansion of US sanctions against tankers with Iranian oil has hit the chain of trade with Chinese oil refiners, which consume 90% of Iran’s exports. Bloomberg writes about this. Supply of Iranian oil to China usually takes place in two stages. First, tankers under sanctions, or those owned by Iran, leave Iranian oil terminals and head for an intermediate point in Southeast Asia, most often off the coast of Malaysia.Advertisement: There the cargo is transferred from one tanker to another, which then delivers oil to China. However, due to the sanctions, a number of vessels that previously delivered oil to China were stopped. This has forced some operators to withdraw from this phase of the trade, reducing the number of available tankers used on the route. The result has been reduced volumes of Iranian oil at higher prices for non-state Chinese refiners, which consume about 90% of Tehran’s exports. Advertisement: This has prompted Chinese refiners to seek alternative supplies in Africa and other parts of the Middle East, buying up leftover oil from previous trade cycles. Sanctioned tanker operators fear that their vessels could be turned away by port authorities, forcing them to look elsewhere for offloading and incur additional costs. in the following weeks – 12 more vessels.
