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China-Iran crude imports slump as cargo-tracking opacity rises

The US Treasury last week said it would not renew 120-day waivers granted to eight countries to import limited quantities of sanctioned Iranian crude and petrochemicals that expire on May 2

On the face of the available data, oil exports from Iran to China appear to be significantly declining as the US ramps up its rhetoric on sanctions against Iran, but these figures will be revised in the weeks ahead as the picture becomes less opaque

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