Iran's oil exports are at their highest level in six years. Tehran sold an average of 1.56 million barrels per day in the first three months of this year.
China sources around ten percent of its total oil imports from Tehran. The two countries signed an agreement in March 2021 to "strengthen their long-standing economic and political alliance," according to the Iranian news agency Tasnim. According to the Reuters news agency, China was able to get a barrel of Brent for ten US dollars below the usual price on the world market for a long time. Most recently, the discount fell to five US dollars per barrel. The West's numerous sanctions against Tehran do not appear to be having the desired effect. With the help of oil tankers that switch off or manipulate their transponders, Iran apparently manages to circumvent the economic restrictions.