China Demands Deeper Discounts on Iranian Crude

Chinese refiners leverage Iran's deepening isolation to demand further price reductions on Iranian crude oil. With most alternative buyers cut off by sanctions enforcement, Iran is forced to accept discounts of $10-15 per barrel below international benchmarks for deliveries to Chinese independent refiners. The discounts, combined with reduced export volumes of approximately 800,000 barrels per day, mean Iran's oil revenue has fallen to a fraction of pre-sanctions levels, further straining the government's ability to fund imports and stabilize the currency.