US sanctions have significantly impacted Iran's oil trade, with China emerging as the primary buyer, providing a crucial lifeline to Tehran's economy.
Here's how US sanctions and Trump's policy
impact Iran's oil trade
•General Impact of Sanctions: Iran's economy has
been battered by crippling international sanctions, which have targeted
its trade1. The United States has previously imposed sanctions to punish the
trade of Iranian oil1. For instance, last month, the United States announced fresh
sanctions on Iranian oil sales to Beijing2. These actions are part of
Trump's administration's "maximum pressure" campaign against Tehran2.
•China's Role as a Buyer:
◦China serves as the main buyer of Iranian oil1.
◦It buys more than 90% of Iran's oil exports2.
◦In April, China imported 1.3 million barrels of Iranian
crude oil per day, although this was a decrease from a five-month high in
March2.
•Trump's Policy Shift (June 2025):
◦On Tuesday, June 24, 2025, U.S. President Donald Trump
stated that China can continue to buy Iranian oil1.
◦This statement appeared to be a relief for Tehran from
previous sanctions Washington had imposed1.
◦Trump posted on Truth Social, "China can now continue
to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the
U.S., also"1.
•Broader Regional Context: While not directly about
oil trade impact, it's notable that China has condemned recent US bombing
strikes on Iran's nuclear facilities and called for de-escalation in the
region, particularly involving Israel2. However, analysts suggest that the
fighting between Israel and Iran has severely reduced Beijing's regional
leverage.
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