Iran ships $6 bn of oil to China via Malaysia during US‑brokered truce

During a month‑long truce that began on 17 June, the United States lifted its blockade on Iranian oil exports. In that window Iran moved an estimated $6 billion worth of crude to China. The shipments used a “shadow fleet” of super‑tankers that gathered off the eastern coast of Malaysia, where the oil was transferred ship‑to‑ship before proceeding to Chinese ports, primarily in Shandong province. Satellite data show at least 20 tankers arriving in late June, carrying around 70 million barrels. The operation relied on AIS‑off devices and non‑USD payments, allowing Tehran to evade sanctions and give the trade an unexpected Indo‑Pacific dimension.

The oil trade is critical for Iran’s economy, providing billions of dollars in revenue, while highlighting the challenges faced by the United States in enforcing sanctions against Tehran.