A huge 910,000 tonnes of crude oil was offloaded at Chinese ports during the month of September after it was transferred in the South China Sea, according to Bloomberg. This amount is three times as much as the month of August. The US has warned that there will be repercussions for anyone who buys Iranian oil. It is believed that the oil comes from Iran or Venezuela. Michal Meidan, director of the China Energy Programme at the Oxford Institute for Energy Studies, said: “I think its highly likely that these ship-to-ship and Malaysian volumes are Iranian or Venezuelan crude. “But of course the whole point here is to make it hard to be sure.” The US government is behind the new sanctions against Chinese companies buying Iranian crude oil. Secretary of State of the US, Mike Pompeo said in September: “Today we are imposing sanctions on certain Chinese entities for knowingly transporting oil from Iran contrary to United States sanctions’. Serena Huang, a Singapore-based senior analyst at Vortexa, said: “We have observed a rise in ship-to-ship transfers of Venezuelan crude near Malaysia’s Tanjung Bruas in recent months headed for China. READ MORE: Iran threat: Tehran begins war games after Turkey airstrikes… Read full this story
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