11:12 GMT +312 December 2018
Listen Live
    Gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf July 25, 2005

    Iran Ships Millions of Barrels of Oil to China as US Sanctions Loom - Reports

    © REUTERS / Raheb Homavandi
    Middle East
    Get short URL
    2291

    Washington is planning to slap sanctions on Iranian oil trade in November 2018, promising to impose secondary sanctions on all entities buying crude from Tehran. Iran has promised to resist the US sanctions and said it would find new buyers for its oil.

    An armada of oil tankers carrying some 22 million barrels of Iranian crude will be sent to the Chinese city of Dalian in the near future in a bid to arrive before the impending US sanctions against Tehran take effect, Reuters reported, citing an anonymous Iranian source.

    "As our leaders have said it will be impossible to stop Iran from selling its oil. We have various ways of selling our oil and when the tankers reach Dalian, we will decide whether to sell it to other buyers or to China," the source said.

    The oil shipment delivered by the National Iranian Tanker Co. is planned to arrive by the end of October or the beginning of November. According to data from previous years, Dalian usually receives between 1 million and 3 million barrels of Iranian oil per month. Neither Iran, nor China has commented on the report.

    READ MORE: 'It's Not Helpful': US Warns India Against Buying Iran Oil, Russian S-400s

    The White House previously announced that it would be re-imposing sanctions against Iranian oil export in November 2018. The Islamic Republic dismissed the threats by claiming that it would find a way around them. Iran's First Vice-President Eshaq Jahangiri said earlier this week that Tehran had already found new buyers for its oil.

    Related:

    Israeli Justice Minister Shaked: Oil Sanctions Will 'Hurt Iran A Lot'
    US Seeks to Replace Iran's Falling Oil Sales With Crude Exports - Special Envoy
    Iran Found New Partners for Oil Exports Despite US Sanctions - Vice-President
    'It's Not Helpful': US Warns India Against Buying Iran Oil, Russian S-400s
    US ‘Pleased’ Some States Moving to Stop Buying Iran's Oil - State Department
    Iran Devises Plan to Keep Oil Trade as 2nd Wave of US Sanctions Nears - Reports
    Tags:
    Iran nuclear agreement, sanctions, Oil, United States, China, Iran
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik