Iran sought control of China oil terminals, leak says

Leaked correspondence reported by Iran International says Iran negotiated to buy port facilities and oil terminals in China and took long-term storage leases to keep sanctioned crude moving to its biggest buyer.

Why it matters: If accurate, the arrangement would show how Iran's sanctioned oil trade with China was structured at the terminal level before exports plunged under the US blockade.

Data as of OilPrice.com article of November 9, 2026, read in full in this run, relaying Iran International reporting based on leaked confidential correspondence and unnamed Iranian oil ministry sources. Single-origin reporting, not independently corroborated; shipped at grade C with that limitation.

Iran negotiated buying port facilities and oil terminals in China to build a hub for sanctioned Iranian crude, according to leaked confidential correspondence obtained by Iran International and reported by OilPrice.com on Monday. The reporting says Iran bought control of port facilities at three locations in China and stakes in docks in Shandong province, home to China’s independent refiners, and secured long-term leases on large storage facilities, with shadow fleet vessels linked to Hossein Shamkhani carrying oil to terminals Iran controls. The claims rest on the leaked letters and unnamed sources at the Iranian oil ministry and have not been independently corroborated.

Iran sought control of China oil terminals, leak says

Sources