China let's their nuts hang, countinues to buy oil from Iran in defiance of Trump!

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Chinese crude shipments from Iran were 855,638 tons last month, or 208,205 barrels per day (bpd), customs data showed. Imports continued despite Washington’s ending of exemptions given to Beijing for buying Iran’s crude in May.



A total of 670,000 tons (about 163,000 bpd) of Iranian crude oil was discharged in June at Tianjin in north China and Jinzhou in the northeast, according to assessments by Refinitiv Oil Research. Another 430,000 tons of Iranian crude oil was discharged in July at Jinzhou and Huizhou in South China.

Last week, Washington blacklisted Chinese company Zhuhai Zhenrong which is the largest buyer of Iranian oil in the world. The company’s CEO Youmin Li was also placed on the US blacklist.

Exports of Iranian crude oil have been put in jeopardy since the White House re-imposed sanctions on Iran in November last year, demanding all countries stop importing oil from the country.

Tehran said it will defy the sanctions and continue to export oil.In