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Chinese State Refiners Consider Resuming Iranian Oil Imports for First Time Since 2019

2026-06-25 10:40:07

According to Reuters, Chinese state-owned refiners PetroChina and Sinopec are considering resuming Iranian crude oil purchases as of today (June 25), marking the first time since 2019. The move follows the U.S. waiver issued on Monday, which allows global customers to purchase Iranian oil and petrochemical products and use U.S. dollars for settlement. Multiple industry sources said the two companies are currently evaluating banking, insurance, and shipping conditions required to resume transactions with Iran. However, increased crude exports from Saudi Arabia, Kuwait, and Iraq, combined with declining domestic fuel demand, may weaken purchasing appetite.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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