China skirts U.S. sanctions as top buyer of Iranian oil — here's how, and why that's unlikely to change soon

1. China's Iranian crude oil imports nearly doubled to 17.8 mbd in 2024. 2. Discounted Iranian oil is appealing to buyers despite U.S. sanctions. 3. Trump's comments suggest potential easing of U.S. sanctions on Iranian oil. 4. Ship-to-ship transfers hide Iranian oil's origin and facilitate trade. 5. U.S. crude prices fell 6% after Trump's remarks on Iranian oil.