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The article reveals that China's purchases of Iranian oil have decreased significantly, despite accounting for 80% to 90% of Tehran's crude exports. This shift occurs as independent Chinese refineries have begun diverting part of their imports to cheaper grades from Gulf countries such as Qatar, Iraq, and the UAE, due to narrowing price advantages amid rising risks and costs associated with sanctions on Iran. China's demand for Iranian oil has declined because of the price gap, alongside changes in domestic demand amid regional tensions, leading to an over 41% reduction in China's oil imports from Iran in June 2026 compared to the previous period. Nonetheless, Beijing continues to cooperate with Iran within the framework of its broad network of interests, balancing the ongoing import of oil from Tehran with a preference for more stable Gulf options, while maintaining an asymmetric relationship that allows China to retain economic influence without direct political commitments.
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