Chinese tanker loads Iranian oil, first since July
A Chinese tanker loaded crude in Iran in March, according to shipping data and an industry official, the first time a China-flagged ship has transported Iranian crude since EU sanctions imposed last July stopped insurers covering the shipments.
The United States and Europe imposed tough sanctions in 2012 that aim to choke Iran's oil revenue and force Teheran to halt its nuclear program. Unable to find insurance for its own vessels because of the sanctions, China has relied mainly on the National Iranian Tanker Company (NITC) to ship Iran's crude to Chinese refineries. (Reuters)
