China’s Heavy Reliance on Iranian Oil Imports

File image of commercial vessels, including oil tankers, wait at an anchorage in the Black Sea off Kilyos near Istanbul, Turkey, December 9, 2022. REUTERS/Umit Bektas/File Photo

China, the world’s largest crude importer, is the main buyer of oil from OPEC producer Iran, leaving Beijing uniquely exposed to any supply disruption from conflict in the Middle East.

Beijing, which is also the biggest buyer of oil from Venezuela and a top importer of oil from Russia, has used purchases from the three countries facing various Western sanctions to save billions of dollars on its import bill in recent years.

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by Reuters

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