China can continue to buy Iranian oil: Trump

ABOARD AIR FORCE ONE: China can continue to buy Iranian oil, US President Donald Trump said Tuesday in what appeared to be relief for Tehran from sanctions Washington has previously imposed to punish the trade.

“China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the US, also,” Trump wrote in a post on his Truth Social platform as he travelled to a NATO summit in The Hague.

The latest remarks came as Trump earlier in the day said he does not want to see “regime change” in Iran, which he said would lead to chaos.

He also sharply rebuked Israel for its military response following a ceasefire deal and accused both Israel and Iran of violating the agreement just hours after he announced it.

OIL IS THE LIFELINE

Meanwhile, Trump’s statement about Iranian oil is what Tehran would really want, as the US sanctions has badly affected Iran’s economy.

In this scenario, Iran relies heavily on oil exports and China is its biggest client.  

The Islamic Republic of Iran has third largest oil reserves in the world.

Soon after the US strikes on its nuclear facilities, Iran had started mulling over the option of closing the Strait of Hormuz – a move that would have choked oil supply, thus affecting the global economy.

China’s position as the main buyer of Iranian oil has served as a crucial lifeline for Tehran amid the international sanctions.

Beijing buys more than 90 per cent of Iran’s oil exports, according to the analysis firm Kpler.

It imported 1.3 million barrels of Iranian crude oil a day in April, down from a five-month high in March.

Last month, the United States announced fresh sanctions on Iranian oil sales to Beijing; however, as the Trump administration continued its “maximum pressure” campaign against Tehran.

China has condemned recent US bombing strikes on Iran’s nuclear facilities and called for parties in the region, “especially Israel”, to de-escalate. It has also called for a political solution to help a declared ceasefire hold.

NATO COLLECTIVE DEFENCE

US President Donald Trump said Tuesday that there were “numerous definitions” of NATO’s collective defence clause, in comments likely to cause fresh alarm to allies as he heads to the alliance’s summit in The Hague.

“Depends on your definition. There’s numerous definitions of Article Five,” Trump told reporters aboard Air Force One when asked if he was committed to the core NATO pledge to defend any member nation that is attacked.