China imported 556,000 b/d from Iran in Q1 Receive daily email alerts, subscriber notes & personalize your experience. Register Now Analysts expect mixed compliance by Beijing Japan, South Korea seen ending Iran flows China’s response to tougher US oil sanctions on Iran will be crucial to the 2019 oil supply and price outlook, because the top importer accounted for 40% of Iran’s shipments in the first quarter and has the ability to skirt sanctions without damaging its economy, analysts said Monday. India — Iran’s No. 2 customer, accounting 23% of Q1 shipments — is expected to largely comply with US sanctions when its waiver expires next week, analysts said. Japan and South Korea, which each accounted for 13% of Iran’s Q1 exports, will almost certainly halt trading with Iran when their waivers expire because the political risks are too great, analysts said. “China is the big $80-oil-barrel […]