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Iranian Oil Trade Evades Sanctions Through China Shipments

Financial Times Companies •
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Iran is smuggling millions of barrels of crude oil to China via complex shipping routes that bypass international sanctions. These illicit shipments provide Tehran with crucial revenue, estimated at hundreds of millions of dollars monthly, while allowing Beijing to build strategic reserves at discounted prices. China has emerged as Iran's primary market for sanctioned oil, exploiting loopholes in maritime transport and insurance networks. This trade undermines Western efforts to isolate Iran economically and strengthens China's energy security posture. Iran relies on these covert operations to fund its government and military activities despite international pressure.