China's Strategic Maneuver: Iranian Oil Import Dynamics Amid Sanctions
Published on: March 21, 2026, 11:34 a.m. | Source: Devdiscourse
China, the world's leading crude importer, primarily sources its oil from Iran. However, recent U.S. sanctions waivers could lead to competition and increased prices. In 2025, China bought over 80% of Iran's oil, mainly through independent refiners in Shandong. The geopolitical landscape and pricing strategies play crucial roles in this trade.
