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Sunday, January 6, 2013
EIU: China Purchases 50% of Irans Crude Exports

EIU: China Purchases 50% of Iran's Crude Exports
News number: 9107133477 16:48 | 2013-01-06
http://english.farsnews.com/newstext.php?nn=9107133477

TEHRAN (FNA)- China is the buyer of more than half of Iran's exported crude
oil despite the unilateral sanctions imposed by the US and the European
Union on Iran's energy sector, the latest statistical report of the Economic
Intelligence Unit (EIU) said.

Three other Asian countries of South Korea, Japan, and India are also major
importers of Iran's crude oil, but china with 50 percent share is the
biggest importer, the EIU report said.

The interest shown by the four Asian countries to purchase Iran's crude oil
comes despite the harsh sanctions imposed by the EU and the US against
Iran's energy sector.

After the UN Security Council ratified a sanctions resolution against Iran
on June 9, 2010, the United States and the European Union imposed further
unilateral sanctions against the Islamic Republic over its nuclear program,
mostly targeting the country's energy and banking sectors.

Tehran has always dismissed West's pressures and stressed that sanctions and
embargos merely consolidate Iranians' national resolve to continue the path
of progress.

The EU measure was ratified at a ministerial meeting in January, but the
27-member bloc deferred its implementation until July 1.

Meantime, analysts believe that the EU started implementation of the
sanctions against Iran at a time when it is experiencing its worst economic
conditions.

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