China re­sumes Ira­nian oil Im­ports after re­ceiv­ing waiver

Business a.m. - - WORLD BUSINESS & ECONOMY -

ASIA’S LARGEST BUYER of Ira­nian oil is said to have re­sumed pur­chases from the Per­sian Gulf state fol­low­ing a one-month hia­tus, a move that will help al­lay fears that U.S. sanc­tions on the OPEC pro­ducer will con­strain global sup­plies.

China will start load­ing the crude again in Novem­ber after it halted pur­chas- es in Oc­to­ber, ac­cord­ing to peo­ple with knowl­edge of the mat­ter, who asked not to be iden­ti­fied be­cause it’s con­fi­den­tial.

The Asian na­tion was one of a hand­ful that won ex­emp­tions from the U.S. to keep im­port­ing Ira­nian oil with­out fall­ing foul of sanc­tions, with a waiver al­low­ing 360,000 bar­rels a day for six months start­ing Novem­ber.

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