Trump: China can now continue buying oil from Iran

US President Donald Trump said on Tuesday that China can now continue buying oil from Iran, following the announcement of a ceasefire agreement between Israel and Iran.

China is the main buyer of Iranian oil, accounting for about 13.6% of the world’s largest crude oil importer’s purchases this year, making Beijing the most vulnerable to any supply disruptions resulting from the conflict in the Middle East.

China buys nearly 90% of Iranian oil shipped, which has few buyers due to US sanctions aimed at cutting off funding for Tehran’s nuclear program.