Follow CGSP on Social Media

Listen to the CGSP Podcast

China’s About to Buy a Lot More Russian Oil and That’s Bad News for Iran

by Eric Olander

Iran’s once steady business of selling large quantities of oil to China’s independent refineries may soon become the latest casualty of Russia’s invasion of Ukraine. 

For years, China provided Iran a vital cash flow by supplying the Chinese with as much as 7% of their total oil imports. Much of that oil was laundered through transshipments via Oman, the UAE, and Malaysia among other countries, circumventing U.S. sanctions.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More

You Might Like

Iran-China Trade Topped $15 Billion Last Year: Report

Two-way trade between China and Iran increased by 7% last year to $15.8 billion, according to new data by Chinese customs authorities. Iranian exports to China accounted for $6.35 billion, while imports from ...

Republican Senators Find New Reason to Hate the Iran Nuclear Deal… China

Conservative Republicans in the U.S. Senate are well-known for their disdain for Iran. They’re also equally opposed to the Communist Party of China. So, it’s a no-brainer then to combine the two into ...

U.S. Tries to Stem the Flow of Iranian Oil to China

The United States government on Wednesday imposed new sanctions against Iranian oil companies and the network of firms that help facilitate the flow of Iranian crude to markets in East ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.