The US says it’ll crack down on countries doing business with Iran. Who’s buying Iranian oil?
“A complete halt (in imports of Iranian crude) would probably have a limited immediate impact on China’s overall oil security, because imports from Iran have already fallen substantially and China still holds relatively large crude inventories,” Tianyue Hu, an analyst at energy intelligence firm Rystad, told CNN.” Thirty-eight percent of China’s oil and 23% of its liquified natural gas transits through the Strait of Hormuz, a focal point of the Iran war, according to a Nomura report in April.2 billion worth of oil in September 2025, one analysis found; China, the world’s largest energy consumer, buys the vast majority.
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