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Iran Urges China to Release $1.7 Billion in Stranded Oil amidst Sanction Concerns

share-iconWednesday, January 08 comment-icon3 weeks ago 9 views
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reutersREUTERS
Iran Urges China to Release $1.7 Billion in Stranded Oil amidst Sanction Concerns

Credited from: REUTERS

  • Iran is advocating for the release of 25 million barrels of stranded oil currently held at Chinese ports due to sanctions.
  • The stranded oil, valued at $1.75 billion, has been stuck since 2018, highlighting challenges for Iran in oil sales even to China.
  • Former President Donald Trump's return raises concerns that additional sanctions on Iranian oil may be imposed.
  • Despite sanctions, Iran has maintained a thriving oil trade, utilizing a shadow fleet of tankers to navigate restrictions.
  • Iran's officials are in discussions with Chinese storage operators about fees and conditions for releasing the oil, amid urgent concerns from Tehran.

For more details, visit the original article here.

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Gloria Terra

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