Iran Accelerates Oil Sales to Fund Militias Amid Rising Tensions
In a significant move to support its regional allies, Iran has commenced the sale of nearly 3 million barrels of oil stored in China. This oil is part of a larger 25-million-barrel stockpile sent to China in 2018, aimed at circumventing U.S. sanctions. Reports indicate that the shipment received green light from Chinese authorities following negotiations with Iranian officials, despite prior hesitance.
The urgency of this oil sale is underscored by Iran's pressing economic needs, as regional conflicts have weakened its supporting militias. With the incoming U.S. administration led by President-elect Donald Trump potentially reinstating stringent sanctions, the swift sale of this oil is seen as a crucial step for Iran to bolster its finances.
The development comes amidst escalating tensions in the Middle East, particularly concerning Israel, and highlights the complexities of international relations in the region.
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