China is a key customer for Iranian oil, mainly through independent “teapot” refineries that rely on discounted crude from the Islamic republic.
| Photo Credit: Reuters
China will not comply with U.S. sanctions against five firms targeted for purchasing Iranian oil, Beijing’s Commerce Ministry said on Saturday (May 2, 2026).
China is a key customer for Iranian oil, mainly through independent “teapot” refineries that rely on discounted crude from the Islamic republic.
Published – May 02, 2026 07:39 pm IST