x Abu Dhabi, UAETuesday 23 January 2018

China's growing imports squeeze out Iran

Beijing doubles imports of crude from Iraq and takes more from Saudi Arabia and Kuwait, which official attribute to price rather than politics.

Increased Chinese oil imports from nine of the country's top 10 suppliers are squeezing Iran's share of the biggest Asian energy market. But the development may have little to do with the latest US and EU sanctions over Tehran's controversial nuclear programme.