China Has Significantly Reduced Exports to Iran After Sanctions
China’s Customs office has published last year’s trade report. The data shows that China’s export to Iran has significantly decreased after the United States left JCPOA, and Iran’s export to China has also decreased in the last two months of the year, meaning after the oil sanctions.
According to the report, in 2018 China has had 14 billion USD export to Iran and 21 billion USD import from the country. Most of the trade has occurred in the first half of the year.
The monthly numbers show that China’s export to Iran has significantly dropped since the United States left the JCPOA.
Crude oil is the main export of Iran to China. Before the U.S left JCPOA, China was buying 700 thousand barrels of oil a day from Iran, but now this number has been reduced to half.
In the first nine months of 2018, China’s export to Iran was about 8172 million dollars, which is more than 25 percent of Iran’s imports. Iran’s overall imports have been reduced by 16 percent. Most countries have reduced their export to Iran, but Iran’s import from Russia and Oman has increased by 74 and 282 percent.