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China Reports 1st Official Iranian Oil Imports Since Dec 2020

Towers and smokestacks are silhouetted at an oil refinery in Melbourne June 21, 2010. REUTERS/Mick Tsikas/File Photo
Towers and smokestacks are silhouetted at an oil refinery in Melbourne June 21, 2010. REUTERS/Mick Tsikas/File Photo
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China Reports 1st Official Iranian Oil Imports Since Dec 2020

Towers and smokestacks are silhouetted at an oil refinery in Melbourne June 21, 2010. REUTERS/Mick Tsikas/File Photo
Towers and smokestacks are silhouetted at an oil refinery in Melbourne June 21, 2010. REUTERS/Mick Tsikas/File Photo

China reported the first imports of Iranian crude oil in a year despite ongoing sanctions by the United States government, according to data released by customs on Thursday.

China brought in 260,312 tons of Iranian crude oil in December, according to data from the General Administration of Chinese Customs, which last recorded Iranian oil inflows in December 2020 at 520,000 tons.

It was not immediately clear which company brought in the latest cargo, which is equal to the amount of oil that would fit onto one very large crude carrier (VLCC) tanker, and which terminal it was discharged into.

Unofficially, China's imports of Iranian oil had held above 500,000 barrels per day on average between August and October, as buyers judged that getting crude at cheap prices outweighed the risks of busting US sanctions, Reuters reported in November.

Imports from Iran have accounted for about 6% of China's crude oil imports, according to shipping data and trader estimates.

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Norway Refuses to Toughen Investment Rules in Israeli Companies

This picture shows the Palestinian village of Turmus Ayya, north of Ramallah in the occupied West Bank (foreground) and the Israeli settlement of Shilo (background) on June 1, 2025. (AFP)
This picture shows the Palestinian village of Turmus Ayya, north of Ramallah in the occupied West Bank (foreground) and the Israeli settlement of Shilo (background) on June 1, 2025. (AFP)
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Norway Refuses to Toughen Investment Rules in Israeli Companies

This picture shows the Palestinian village of Turmus Ayya, north of Ramallah in the occupied West Bank (foreground) and the Israeli settlement of Shilo (background) on June 1, 2025. (AFP)
This picture shows the Palestinian village of Turmus Ayya, north of Ramallah in the occupied West Bank (foreground) and the Israeli settlement of Shilo (background) on June 1, 2025. (AFP)

The Norwegian parliament on Wednesday rejected moves to toughen rules on its sovereign wealth fund investing in companies operating in the occupied West Bank.

Lawmakers voted by 88 to 16 against a proposal to order the fund to withdraw from companies "that contribute to Israel's war crimes and the illegal occupation" of the West Bank.

Norway's sovereign wealth fund, fueled by vast revenue from the country's oil and gas exports, is the biggest the world and has nearly $1.65 trillion invested around the globe.

The government though is under pressure to use its financial clout to influence Israeli policy in the Gaza Strip and the West Bank, where its settlement policy has been deemed illegal under international law.

In a letter signed by about 50 non-governmental organizations, Norway's main union LO called on the Labor government to ensure that the fund's investments were in line with the country's legal obligations.

The UN special rapporteur on the occupied Palestinian territories on May 20 urged Oslo to "fully and unconditionally divest from all entities linked to Israel's unlawful presence in the occupied Palestinian territory".

Francesca Albanese said Norway's fund held $121.5 billion -- or 6.9 percent of its total value -- in companies "involved in supporting or enabling egregious violations of international law in the occupied Palestinian territories".

Norwegian Finance Minister Jens Stoltenberg in response called for an end to violence, the liberation of Israeli hostages kidnapped on October 7, 2023 and the resumption of humanitarian aid.

But he said the fund's investments "do not violate Norway's obligations under international law".

The fund is regulated by a raft of ethical rules and has already divested from 11 companies because of their activities in the occupied West Bank.

In May, it withdrew its investment in Paz Retail and Energy, which distributes fuel in Israeli settlements.

Relations between Norway and Israel have soured since May 2024, when the country joined Spain and Ireland in recognizing the state of Palestine.