Tightening of inspections at Shandong Customs in China
Reuters has reported that Shandong Customs in China has intensified inspections of oil shipments after the revelation of document forgery related to the sale of Iranian oil.
This report, citing trade sources, adds that after local officials met and set conditions regarding the usage of the shipments, the unloading of millions of barrels of oil has begun on Thursday, July 8.
The imposition of restrictions and stricter inspections of oil shipments at China’s most important oil import port occurred after Iran, in an attempt to bypass U.S. sanctions, labeled several shipments as diluted bitumen instead of crude oil on the bill of lading.
After the revelation of document forgery by the Islamic Republic of Iran, the unloading of some shipments, mainly from Venezuela and Iran, was halted. Reuters now reports, quoting informed sources, that following a meeting between the governor of Shandong and the country’s customs officials, the unloading of nearly 10 million barrels of oil has begun.
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