China's Iranian oil imports rise to record high despite sanctions
Beijing – Saba:
Analysts confirmed on Friday that China's Iranian oil imports rose significantly in June, driven by increased demand from independent refineries and accelerated shipments ahead of the recent Israeli aggression against Iran.
Data from ship-tracking company Vortexa showed that China, the world's largest oil importer, received more than 1.8 million barrels per day (bpd) of Iranian crude between June 1 and 20, the highest level on record, according to the company's data, according to Reuters.
The agency reported that global oil company Kpler indicated that imports of Iranian crude oil and condensate averaged 1.46 million bpd through June 27, compared to 1 million bpd in May, reflecting a significant increase in imported quantities.
Analysts at both companies expect imports to remain at high levels, given that cargo loadings have continued at a robust pace since May.
For his part, US President Donald Trump said last Wednesday that Washington had not retreated from its maximum pressure policy toward Iran, including restrictions on its oil exports.
However, he indicated the possibility of limited relaxation in the implementation of sanctions, with the aim of "helping rebuild the country," as he put it.
Whatsapp Telegram Email Print
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saba Yemen
5 hours ago
- Saba Yemen
Trump announces immediate end to all trade talks with canada
Washington - Saba: U.S. President Donald Trump announced the immediate termination of all trade discussions with Canada in response to Ottawa's decision to impose a digital services tax targeting American tech companies. In a post on the social media platform "Truth Social" on Friday, President Trump described Canada's digital services tax as a "direct and brazen attack on the United States." Trump stated, "Based on this outrageous tax, we are hereby ending all trade discussions with Canada, effective immediately." He added, "We will inform Canada of the tariffs they will pay to deal with the United States within the next seven days." The U.S. president further remarked, "We have just been informed that Canada—a country that has been very difficult to trade with, especially as it has imposed tariffs of up to 400% on our dairy farmers for years—has announced it will impose a digital services tax targeting American tech companies. This is a direct and blatant assault on our country." He continued, "Clearly, they are copying what the European Union did by imposing the same tax, which is now also in discussions with us on this matter." Canadian Prime Minister Mark Carney had announced last Monday that he and President Trump agreed to work toward a new economic and security agreement between their two countries within 30 days. The two leaders had met earlier on the sidelines of the G7 Summit in Alberta, where Trump reiterated his insistence on tariffs. A statement from the Canadian Prime Minister's Office said, "Prime Minister Carney and President Trump exchanged updates on key issues in the negotiations for a new economic and security relationship between Canada and the United States." Notably, the total value of U.S. goods trade with Canada reached approximately $762 billion in 2024, according to the Office of the U.S. Trade Representative. Meanwhile, the U.S. president escalated his threat to increase tariffs on certain countries by the July 9 deadline. Trump's remarks on Friday are the latest indication that some negotiations with major partners may extend beyond early July. However, the U.S. president is considering higher tariff rates for smaller economies that have not reached agreements with the United States. During a press conference at the White House, Trump stated, "At some point in the next week and a half, or maybe sooner, we will send a message. We have spoken with many countries, and we will simply inform them of what they must pay to do business with the United States." Whatsapp Telegram Email Print
Saba Yemen
7 hours ago
- Saba Yemen
China's Iranian oil imports rise to record high despite sanctions
Beijing – Saba: Analysts confirmed on Friday that China's Iranian oil imports rose significantly in June, driven by increased demand from independent refineries and accelerated shipments ahead of the recent Israeli aggression against Iran. Data from ship-tracking company Vortexa showed that China, the world's largest oil importer, received more than 1.8 million barrels per day (bpd) of Iranian crude between June 1 and 20, the highest level on record, according to the company's data, according to Reuters. The agency reported that global oil company Kpler indicated that imports of Iranian crude oil and condensate averaged 1.46 million bpd through June 27, compared to 1 million bpd in May, reflecting a significant increase in imported quantities. Analysts at both companies expect imports to remain at high levels, given that cargo loadings have continued at a robust pace since May. For his part, US President Donald Trump said last Wednesday that Washington had not retreated from its maximum pressure policy toward Iran, including restrictions on its oil exports. However, he indicated the possibility of limited relaxation in the implementation of sanctions, with the aim of "helping rebuild the country," as he put it. Whatsapp Telegram Email Print
Saba Yemen
2 days ago
- Saba Yemen
Italy's "Co-op" Supermarket Chain Boycotts Israeli Products
Rome - Saba: The "Co-op" supermarket chain in Italy has announced the removal of certain Israeli products from its shelves in protest against the genocide being committed by Tel Aviv against Palestinians in the Gaza Strip, ongoing for the past 21 months. The British-origin company, one of Italy's most prominent supermarket chains, stated on Wednesday: 'We cannot remain indifferent to the ongoing violence in the Gaza Strip.' The statement strongly condemned the blockade imposed by the Israeli occupation government on Gaza and its prevention of the delivery of humanitarian aid and supplies to civilians. It announced the withdrawal of various goods produced in Israel from Co-op's stores, including pistachios, tahini, and items bearing the Sodastream brand. The decision, it noted, was based on a report by the company's Ethics Committee. The statement further noted that initiatives launched or supported by the company to provide material support for Gaza remain ongoing. It also highlighted the addition of a new product called 'Gaza Cola' to store shelves, with proceeds from its sales dedicated to rebuilding a hospital in the Gaza Strip. Since October 7, 2023, Israel, backed by the United States, has been committing acts of genocide in Gaza involving killing, starvation, destruction, and forced displacement—disregarding international appeals and rulings by the International Court of Justice to halt the atrocities. This genocide has resulted in approximately 188,000 Palestinians killed or injured—most of them children and women—with over 11,000 missing, hundreds of thousands displaced, famine claiming more lives including children, and widespread destruction. Whatsapp Telegram Email Print
