China is the biggest importer of Iranian oil at about 630,000 bpd, followed by India at 281,000.
According to a Wall Street Journal report, “China imported a record amount of crude oil from Iran in the first half of the year.” The increase came over a period during which the interim deal was largely in effect. According to Chinese customs data released earlier this week, Iranian oil imports to China during the first six months of 2014 amounted to 630,000 barrels per day. This represents a staggering 48 percent increase from the same period a year ago. Iran now represents 10 percent of China’s foreign crude purchases. Since the interim deal came into effect, the United States has put less pressure on China to find its oil elsewhere. Thus, Iran has aggressively stepped up its efforts to sell its oil to China — a huge net importer of energy. The Diplomat.com
Why go to far off countries such as Nigeria when you can easily import gas and oil from a near neighbor?
Oil imports ALSO allow leverage and influence of these two big Asian powers over Iran in varying degrees, in different unapparant ways.
The civilian nuclear negotiations, which must continue, are an important element of this development.
Iranian oil however, as a result of this Zionist trade sanction will now on be permamnetly fixed to the Asian market.
European markets have been too brow beaten to accept special sanction waivers for Iranian oil from Washington, which otherwise have been given to many Asian countries as a way to aviod ill feeling and confrontation between Washington and Asian countries.
Data from 2011
India’s six-month Iran oil imports up 33%
Official data show that India increased its crude oil imports from Iran by nearly 33 percent in the first half of 2014.Iran’s January-June oil shipment to India stood at 281,000 barrels per day (bpd), up by a third from 211,400 bpd exported in the same period last year, Reuters reported.
Iran’s contribution to total Indian oil imports rose to 7.3 percent in the first half of the year, up from 5.4 percent last year.
India’s refiners had to cut oil imports from Iran in 2013 because sanctions against the Islamic Republic’s oil sector banned insurance coverage for refineries processing Iranian oil.
India’s June intake was up some 19 percent from the same month in 2013.
India and other Asian buyers of Iran’s oil – China, Japan and South Korea – are expected to receive between 1.25 million and 1.3 million bpd of oil from Iran in the first half of the year.
Mohsen Qamsari, head of international affairs at the National Iranian Oil Company, said recently that Iran is exporting an average of one million bpd of its oil based on the November 2013 interim nuclear deal with the five permanent members of the UN Security Council – the United States, Britain, France, Russia and China – plus Germany.