Iran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. Photo: Shutterstock
Iran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. Photo: Shutterstock
Iran

Ukraine war: Iran slashes cost of oil to gain foothold in China and compete with Russia

  • China has become an important destination for Russian oil as Moscow seeks to maintain flows following the fallout from its invasion of Ukraine
  • That has led to increased competition with Iran in one of the few remaining markets for its crude shipments, which have been curtailed by sanctions

Iran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. Photo: Shutterstock
Iran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. Photo: Shutterstock
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