 "‘My great honour to make this happen’: Trump says China can keep buying Iranian oil")
US President Donald Trump on Tuesday said that China would be allowed to continue purchasing Iranian oil, signaling what appears to be a partial reprieve for Tehran from previously imposed US sanctions aimed at curbing the trade.
Trump, who is on his way to a Nato summit in The Hague, wrote on Truth Social, “China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the US, also. It was my Great Honor to make this happen!”
“Heading to NATO where, at worst, it will be a much calmer period than what I just went through with Israel and Iran. I look forward to seeing all of my very good European friends, and others. Hopefully, much will be accomplished!” he said in another post.
China’s role as the primary purchaser of Iranian oil has provided Tehran with a critical economic lifeline amid sweeping international sanctions.
According to an AFP report, citing data from analysis firm Kpler, Beijing accounts for over 90 per cent of Iran’s oil exports.
In April, China imported 1.3 million barrels of Iranian crude per day, a slight decrease from March’s five-month high.
Despite this vital trade relationship, the United States last month imposed new sanctions targeting Iranian oil sales to China, as part of President Trump’s ongoing “maximum pressure” campaign against Tehran.
Impact Shorts
More ShortsBeijing has strongly criticised recent US airstrikes on Iranian nuclear facilities and urged all regional actors — “especially Israel”— to de-escalate tensions. China has also pushed for a political solution to uphold a fragile ceasefire.
However, analysts say that the intensifying conflict between Israel and Iran has significantly diminished China’s diplomatic influence in the region.
Meanwhile, oil prices accelerated losses on Tuesday after Trump said China can continue to buy Iranian oil, providing reassurance over crude supply in West Asia.
International benchmark Brent slumped 4.5 per cent to $68.26 per barrel, while the main US crude contract WTI shed 4.6 per cent to $65.34, after plunging earlier over a fragile Iran-Israel ceasefire.
With inputs from agencies
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