After easing up on Iranian oil somewhat in favor of heavily discounted Russian crude, China is now set to receive nearly two million barrels of Iranian oil, Reuters reports , citing Vortexa Analytics tanker tracking data. The cargo, set to unload in south China later this week for pumping into the government’s reserves, is the third large cargo to come from Iran since December. The cargo is reportedly on board a tanker owned by the National Iranian Tanker Company, which indicates it will be officially recorded as a Chinese purchase of Iranian crude. As Reuters notes, China does not officially register all of its crude imports from Iran, with some masked to appear as if they are coming from other suppliers, including Iraq and Oman. Reuters estimates that unofficial Iranian crude imports to China are around 7% of China’s total crude imports. According to the Wall Street Journal, Iranian […]