What sanctions? Top five countries buying oil from Iran.

Iran is the third-largest exporter of crude oil in the world, behind Saudi Arabia and Russia. Its economy relies heavily on oil exports. Recent Western sanctions have targeted Iran’s oil industry in hopes of pressuring Tehran to address international concerns about its nuclear program. 

However, the effect of the sanctions could be limited if Iran’s top customers keep buying oil, or even increase their imports. According to tallies from June 2011, here are the top 5 importers of Iranian oil:

1. China

Andy Wong/AP/File
In this Jan. 11 file photo, US Treasury Secretary Timothy Geithner (l.) gestures to Chinese Premier Wen Jiabao before their meeting at the Zhongnanhai leadership compound in Beijing.

China bought 22 percent of Iran’s oil exports in the first half of last year, making it the top importer of Iranian oil.

China has increased its imports of Iranian oil, as other countries including Italy and Britain have decreased their volume, according to the US Energy Information Administration (EIA). Iranian exports of crude and other oil products to China totaled close to 540,000 barrels per day (bpd) in China last year – up from 426,000 bpd the year before.

Despite US pressure to help squeeze Iran’s economy, Beijing has consistently stood its ground on remaining a loyal customer of Iranian oil. China is one of the most populous countries in the world, and is dependent on oil imports to fuel its economy.

1 of 5

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

You've read  of  free articles. Subscribe to continue.