Beijing rejects request to stop buying Iranian crude after US quit nuclear deal
Beijing has, however, agreed not to ramp up purchases of Iranian crude. That would ease concerns that China would work to undermine US efforts by purchasing excess oil.
While the Trump administration has said it wants to cut Iranian oil exports to zero by November 4, most analysts viewed that target as unlikely.
Unfazed, the administration has warned that even allies would face sanctions if they did not show “significant” progress in reducing Iranian oil purchases by November 4, ruling out broad exemptions or waivers.
China – the world’s top crude buyer and Iran’s main customer – lifted monthly oil imports from the country by 26 per cent in July. It accounted for 35 per cent of Iranian exports last month.
Source: SCMP
https://www.scmp.com/news/china/diploma ... olate-iran