Sunday Sep 22, 201304:57 PM GMT
Iran August oil exports to China up 9.8 percent
File photo shows an Iranian oil tanker.
File photo shows an Iranian oil tanker.
Sun Sep 22, 2013 4:55PM
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Official data show Iran’s crude oil exports to China reached 436,296 barrels per day (bpd) in August, up 9.8 percent from July, which hint at the ineffectiveness of US-led sanctions targeting Iran’s energy sector.


Data provided by China’s customs authority showed on Sunday that the country’s August 2013 oil imports were also 17.54 percent higher than August 2012.

During the first eight months of the year, China imported 422,308 bpd of crude oil.

The country is a major Asian buyer of Iranian crude oil.

At the beginning of 2012, the US and the European Union imposed new sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.

The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran rejects the allegation, arguing that as a committed signatory to the Non-Proliferation Treaty (NPT) and a member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful purposes.

On September 6, ten European Union member states and Japan were granted waivers from the illegal sanctions on Iran.

KA/HGH/SS
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