US sanctions disrupt Iranian crude exports to China
Iranian flag with stock graph and an oil pump jack miniature model are seen in this illustration taken October 9, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Iranian crude exports to China have been impacted by broader US sanctions targeting tankers, according to Vortexa Ltd., disrupting oil deliveries to Iran's most significant customer.
Some November cargoes remain undelivered, following disruptions to a number of October shipments, Emma Li, a senior market analyst, wrote in a note. At least 191 Very Large Crude Carriers are on the US sanctions list, News.az reports, citing Bloomberg.“Recent US tanker sanctions have led to a slowdown in Iranian vessels calling at Shandong ports, as Chinese buyers increasingly require cargoes to be delivered on non-sanctioned vessels,” Li said.
As a result of the disruption in crude flows, some independent Chinese refiners — which were recently granted additional import quotas — may face challenges in fully utilizing their allowances.
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