Exposed: How China Helps Iran Evade Sanctions Through Multibillion-Dollar Oil Scheme
(Worthy News) – A network of Chinese petrochemical refiners is behind an upswing in the importation of illicit Iranian crude oil, providing the hardline regime in Tehran with at least $22 billion in revenue since President Joe Biden took office.
Chinese refiners known as teapots, which are semi-independent and not state-controlled, are primarily responsible for “funding this illicit and uniquely lucrative trade” with Iran, according to information obtained by United Against a Nuclear Iran (UANI), an advocacy group that works to expose those who help Tehran to evade economic sanctions.
China’s use of these teapots is part of a coordinated effort to evade international sanctions on Iran’s oil trade, according to UANI. Through this network, Beijing has been able to purchase Iranian crude well below market price while obfuscating its origins. Teapots allow Beijing to bypass its state-controlled refineries and misrepresent the purchases as originating from countries not subject to sanctions. [ Source (Read More…) ]