Beijing offers Tehran a lifeline amid Western sanctions in exchange for oil and the potential of a ‘sleeping power’ friend By Timur Fomenko, a political analyst President Ebrahim Raisi of Iran has concluded an official state visit to China, where he met with his counterpart in Beijing, Xi Jinping.
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Moscow has pledged to reduce output by 500,000 barrels per day in response to Western sanctions The average four-week seaborne shipments of Russian crude in the period to May 5 jumped by 180,000 barrels per day (bpd) to 3.63 million bpd, the highest leap since the start of 2022, when Bloomberg began tracking the flows…
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