Imports of Iranian crude oil by major buyers in Asia hit a 32-month low in September, as China, South Korea and Japan sharply cut their purchases ahead of upcoming U.S. sanctions on Tehran, government and ship-tracking data showed.
China, India, Japan and South Korea last month imported 1.13 million barrels per day (bpd) from Iran, according to the data, down 40.9 percent from a year earlier. This marks the lowest imports since January 2016, right before the previous sanctions targeting Tehran’s nuclear programme were lifted.
The United States is re-imposing those sanctions against Iranian crude oil exports on Nov. 5 as part of President Donald Trump’s efforts to force Tehran to accede to a more restrictive deal on curbing its nuclear and missile programmes. Read More