Was the import of Iranian oil into China banned or increased?

Energy Press reported; The issue of Iranian oil exports to China has heated up again in recent days. While data shows an increase in Iranian oil exports to China, Reuters reported that Shandong Port Group has banned US-sanctioned tankers from entering its ports in the eastern Chinese province. Kepler ship-tracking data shows that the province imported about 1.74 million barrels per day of oil from Iran, Russia and Venezuela last year, accounting for about 17 percent of China’s imports.
According to the report, if the ban goes into effect, transportation costs will increase for independent refiners in Shandong, the main buyers of sanctioned crude from the three countries. Last month, Washington imposed more sanctions on companies and the so-called “shadow fleet” of Iran that trades. US President-elect Donald Trump will take office on January 20 and is expected to tighten sanctions on Iran.
But according to the non-profit organization United Against Nuclear Iran (UANI), which is close to anti-Iran circles, despite the tightening of Western sanctions, Iran’s oil exports in 2024 reached 587 million barrels, a significant increase of 10.75% compared to the previous year, with China as its main buyer. The increase in oil exports reflects Iran’s growing ability to circumvent international restrictions to continue exporting oil illegally.
Therefore, China’s role in the Iranian oil trade is undeniable, with China’s imports accounting for 91% of Iran’s total oil exports in 2024. The country imported 533 million barrels, a significant increase of 24% compared to 2023, mainly due to demand from small refineries in Shandong province.
The difficult situation of teapot refineries
Recently, China’s independent refineries have been facing a new crisis of their own, which has led to a significant decrease in their profits and some refineries may even be temporarily or permanently closed. China’s independent oil refineries, called “pots,” are small in size and usually operate with oil that is subject to sanctions, such as from Russia and Iran. They account for about a fifth of the refining capacity in China, the world’s largest oil importer and main oil consumer. Independent refiners are now facing challenges such as reduced access to cheap oil, financial constraints, local competition and a drop in demand due to the green transition. The International Energy Agency expects China to lose the title of the largest driver of oil demand growth to India, the world’s third-largest oil importer and consumer and most populous country. China’s independent refiners are also dependent on cheap Iranian oil, which accounts for about 90 percent of their exports. According to Western media, they have been constrained since the United States imposed sanctions on tankers carrying Iranian oil in October (2024).