China's Strategic Dependence on Iranian Oil Amid Middle East Tensions
TL;DR Summary
China is the largest buyer of Iranian oil, accounting for about 13.6% of Iran's exports, mainly purchased by independent Chinese refiners known as teapots. Despite U.S. sanctions, China continues to buy Iranian oil at a discount, though recent restrictions and sanctions have slightly reduced its imports. Beijing maintains that its trade with Iran is legitimate and often labels Iranian oil as originating from other countries to bypass sanctions.
- China's heavy reliance on Iranian oil imports Reuters
- Why is China so concerned about Israel-Iran tensions? NPR
- China Is Top Buyer of Iran Oil. Why Other Economies Are More at Risk. Barron's
- War in Iran: China’s Short- and Long-term Strategic Calculations The Diplomat – Asia-Pacific Current Affairs Magazine
- Asia’s Reliance on Middle Eastern Oil Laid Bare by Iran Attacks Bloomberg
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