China's heavy reliance on Iranian oil imports & challenge amid Mideast war
- Posted on March 21, 2026
- By Business News Today
- 7 Views
China's heavy reliance on Iranian oil imports & challenge amid Mideast war
China, a major buyer of Iranian oil, faces new challenges. A U.S. sanctions waiver on Iranian oil means increased competition and higher prices for Beijing. Chinese independent refiners, known as teapots, have been the primary buyers of discounted Iranian crude.
