China uses Iranian tankers to avoid US sanctions

According to Reuters, Chinese oil traders started to transfer their cargo to ships owned by Iranian tanker carrier NITC. This is done to ensure the flow of oil in spite of US sanctions.

Photo: Bloomberg

Chinese oil traders appear to still have interest in buying oil from Iran in spite of US sanctions against the country, reports Reuters.

According to the media bureau, state-owned oil traders Zhuhai Zhenrong Corp and Sinpec Group have both activated a clause from deals with Nation Iranian Oil Corp. (NIOC), which enables them to operate NIOC-owned tankers, say several sources to Reuters.

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