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U.S. Treasury Confirms China Buys Iranian Oil
The US Treasury Secretary today confirmed that China remains a major buyer of Iranian oil, despite economic and political tensions. Iranian oil sales increased by 1.5 times during the first four months of the year, covering 80% of the 1405 fiscal year's oil budget by early August. According to vessel tracking data, China is the largest importer of Iranian oil. China continues to be committed to purchasing Iranian oil despite international pressures, reflecting ongoing economic cooperation between the two countries in this sector.
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