Chinese #oil Giants Rethink Iranian Crude After US Waiver

Chinese state oil companies are reassessing their approach to Iranian crude following a temporary U.S. sanctions waiver aimed at easing global supply pressures. While the waiver allows limited trade of oil already in transit, major Chinese refiners remain cautious due to legal, financial and logistical risks. Despite historically being the largest buyers of Iranian oil China’s state-owned giants are hesitant to fully re-enter the market. Concerns over payment mechanisms, compliance with U.S. rules, and unstable shipping conditions especially amid tensions in the Strait of Hormuz are limiting their appetite for Iranian barrels.

At the same time, some refiners are exploring alternative sources or relying on existing reserves to avoid uncertainty. Independent Chinese refiners, which have traditionally handled most Iranian imports due to discounted prices may continue limited purchases, but large-scale buying remains unclear.

The situation highlights how geopolitical tensions and policy shifts are reshaping global oil flows, with Asian buyers carefully balancing opportunity against risk.
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