China keeps buying oil from Iran

China keeps buying oil from Iran and will use the National Iranian Tanker Co (NITC) for nearly all their imports to be shipped, reports Reuters.

China has recently cut its crude oil purchases from the United States following the trade war between the two nations and therefore has confirmed its opposition to the unilateral sanctions imposed by the US to Iran.

“The shift started very recently, and it was almost a simultaneous call from both sides,” quotes Reuters a senior Beijing-based oil executive, who asked not to be identified.

The US continues to ask its allies to cut oil purchases from Iran. On Monday, the French giant oil company, Total, confirmed its withdrawal from South Pars after it failed to obtain a waiver from U.S. sanctions.

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