(The Diplomat-Japan) Ilan Berman - So much for Chinese cooperation on Iran, it would seem. In April, China's imports of Iranian crude nearly doubled, surging some 48% to reach 1.6 metric tons. China's shippers have capitalized on the lack of market competition to do a thriving business carrying Iranian oil. Chinese insurers, meanwhile, increasingly have supplanted Western underwriters and guaranteed Iran's foreign crude export shipments. Iran has long served as a key supplier of energy to China, providing nearly 12% of China's total annual foreign crude. The writer is vice president of the American Foreign Policy Council in Washington.
2012-06-15 00:00:00Full ArticleBACK Visit the Daily Alert Archive