Iran supplies oil to China in circumvention of U.S. sanctions – Bloomberg

Иран поставляет нефть в Китай в обход санкций США – Bloomberg

Iranian oil does not cross the customs border of China and is not reflected in import data.

Iran supplies oil tankers to China. Millions of barrels of raw material is unloaded into the customs warehouse in the Chinese ports, which formally does not violate the U.S. sanctions, Bloomberg reports, citing sources on Monday, July 22.

“After two and a half months after the White house imposed a ban on the purchase of Iranian oil, oil from Iran continues to be shipped to China where it is placed in the so-called “customs storage”, – stated in the message.

Moreover, it is indicated that the oil does not cross the customs border and is not reflected in import data. That is, delivery does not necessarily contradict the sanctions.

While some volume of oil owned by Chinese businesses that could obtain raw materials under the scheme “oil in exchange for investments”.

Recall that the U.S. last year came from a deal with Iran on its nuclear program and re-imposed sanctions against Tehran, including secondary, that is, in relation to other countries doing business with Iran.

While China, India, Italy, Greece, Japan, South Korea, Taiwan and Turkey until may 2, 2019 was the exception, that is, to this date, Washington has not imposed sanctions against them for buying certain amounts of Iranian oil. However, the US government did not renew these exceptions.

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