On one hand, due to the US-Iran war and the worsening situation in the Middle East, the whole world is yearning for oil. On the other hand, China is not missing out on taking advantage of these deteriorating conditions. According to a CNBC report, Iran is still sending large quantities of crude oil to China. The special thing is that Iran is supplying oil to China through the same route i.e. Strait of Hormuz, which is closed to the whole world. In such a situation, the question arises whether there is any secret deal between Iran and China regarding oil? Because of which Iran is supplying oil to China despite the war.
Let us tell you that after the American attack, Iran had closed the Strait of Hormuz. Due to which the supply of oil and gas reduced in many countries including India. The Strait of Hormuz is the world's most important oil and gas supply route, carrying approximately 20-25% of global oil supply and more than 20% of LNG traded daily.
The report quoted Sameer Madani, co-founder of Tanker Tracker, as saying that since the war started on February 28, Iran has sent at least 11.7 million barrels of crude oil through this waterway and all this oil was for China. Tanker Tracker company keeps an eye on the movement of ships with the help of satellite images. With this, even those ships which turn off their tracking system can be tracked. Many ships have turned dark because Tehran had warned that ships passing through this route could be attacked.
Apart from this, Kpler, a company providing shipping data, estimates that about 12 million barrels of crude oil has passed through this waterway since the war started. According to Kpler, China has been the biggest buyer of Iranian oil in recent years, so a large part of this oil may end up going to China. However, it has now become more difficult to confirm the final destination of the ships.
The Strait of Hormuz is a narrow sea route through which about one-fifth of the world's oil and gas passes. But after the war started last month, the movement of ships here has reduced considerably and many oil tankers are avoiding this route. According to the International Maritime Organization, within two weeks of the start of the war, Iran attacked 10 ships in this area, killing at least 7 sailors. This is the reason that the oil supply chain has been badly affected.
