Economics
China Shipowners Stop Hauling Iranian Oil as U.S. Sanctions Near
- Only Iranian ships are carrying crude to China since July
- OPEC producer has sold cargoes on its tankers to India as well
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China’s shipowners are shunning Iran’s oil, while the OPEC producer is using its own tankers to supply top customers as impending U.S. sanctions threaten to disrupt global crude trade.
All 17 ships used to carry oil from the Islamic Republic to China in July and August are owned by the state-run National Iranian Tanker Co., according to ship-tracking data compiled by Bloomberg. By contrast, almost half the vessels that made the journey in the prior three months were owned by companies in the North Asian nation, the data show.