Turkish Weekly Reports: Vitol, one the world’s largest oil traders, buys 2 million barrels of fuel oil from Iran in one month and offers it to Chinese traders in one month, bypassing the West’s efforts to choke the flow of petrodollars to Tehran, a report says. Vitol is not obliged to comply with the EU ban on Iran.
Vitol, the world’s largest oil trader, is buying and selling Iranian fuel oil, undermining Western efforts to choke the flow of petrodollars to Tehran and put pressure on Iran’s suspected nuclear weapons program.
Vitol last month bought 2 million barrels of fuel oil, used for power generation, from Iran and offered it to Chinese traders, Reuters established in interviews with 10 oil trading, industry and shipping sources in Southeast Asia, China and the Middle East. A spokesman for Vitol declined to comment.