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August 22, 2019
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Millions of Barrels of Iranian Oil Are Piled Up in China's Ports
Mon, 22 Jul 2019 08:28:19 -0400

(Bloomberg) - Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world's biggest buyer.Two and a half months after the White House banned the purchase of Iran's oil, the nation's crude is continuing to be sent to China where it's being put into what's known as “bonded storage,” say people familiar with operations at several Chinese ports. This supply doesn't cross local customs or show up in the nation's import data, and isn't necessarily read the full story...

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