China using Iranian tankers to circumvent US sanctions

According to Reuters, Chinese oil traders have started to switch their cargoes to ships owned by Iranian tanker shipping company NITC in an effort to ensure oil shipments despite the US sanctions.

Photo: Bloomberg

Chinese oil traders look set to want to keep buying oil from Iran despite the US sanctions imposed on the country, reports Reuters.

According to the news agency, state-owned oil traders Zhuhai Zhenrong Corp and Sinpec Group have both activated a clause in their contracts with National Iranian Oil Corp which enables them to use tanker vessels owned by National Iranian Tanker Co (NITC), several sources tell the agency.

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