China buys more Iranian oil now than it did before sanctions

China’s purchases of Iranian oil have risen to record levels in recent months, exceeding a 2017 peak when the trade was not subject to U.S. sanctions, tanker tracking data showed.

Chinese imports exceeded 700,000 barrels per day (bpd) for January, according to estimates of three tanker trackers, surpassing the 623,000 bpd peak recorded by Chinese customs in 2017 before former U.S. President Donald Trump reimposed sanctions in 2018 on Iranian oil exports, Reuters reported.

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