“China is now able to resume its oil purchases from Iran. It is my hope that they will also acquire a significant amount from the United States. It was a great honor for me to facilitate this!” President Trump stated on Truth Social.
On Tuesday, US President Donald Trump announced that China would be permitted to continue its purchases of Iranian oil, indicating what seems to be a partial relief for Tehran from the US sanctions that were previously imposed to limit this trade.
While en route to a NATO summit in The Hague, Trump posted on Truth Social, “China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the US, also. It was my Great Honor to make this happen!”
In another post, he remarked, “Heading to NATO where, at worst, it will be a much calmer period than what I just went through with Israel and Iran. I look forward to seeing all of my very good European friends, and others. Hopefully, much will be accomplished!”
China’s position as the leading buyer of Iranian oil has offered Tehran a crucial economic lifeline amidst extensive international sanctions.
An AFP report, referencing data from the analysis firm Kpler, indicates that Beijing is responsible for over 90 percent of Iran’s oil exports.
In April, China imported 1.3 million barrels of Iranian crude daily, which is a slight decline from the five-month peak observed in March.
Despite this essential trade relationship, the United States imposed new sanctions last month targeting Iranian oil sales to China, as part of President Trump’s ongoing “maximum pressure” strategy against Tehran.
Beijing has vehemently condemned the recent US airstrikes on Iranian nuclear facilities and has called on all regional players — “especially Israel” — to reduce tensions. Additionally, China has advocated for a political resolution to maintain a fragile ceasefire.
Analysts indicate that the escalating conflict between Israel and Iran has greatly reduced China’s diplomatic sway in the area.
At the same time, oil prices experienced a decline on Tuesday following Trump’s statement that China may persist in purchasing Iranian oil, which offered some assurance regarding crude supply in West Asia.
The international benchmark Brent fell by 4.5 percent to $68.26 per barrel, while the primary US crude contract WTI decreased by 4.6 percent to $65.34, after a significant drop earlier due to an unstable ceasefire between Iran and Israel.
With contributions from various agencies
