- Leaked letter reveals three terminals and seven tanks in China, outlining Iran's hidden oil network to evade US sanctions.
- Bovard alleged that China refused higher import quotas for Iranian crude, increased purchases from Venezuela, and pressed for discounts.
- Hossein Shamkhani allegedly used government loans for ships to haul Russian oil and sold Iranian oil without collateral.
- Ali Shamkhani reportedly told Khamenei that the discount was 50 cents per barrel under Raisi and $9 under Pezeshkian.
- Iran International reported that Mohammad Javad Bavand instructed intermediaries, including Hossein Shamkhani, to sell 86 million barrels of Iranian crude at an 8.5% discount.
- China remains Tehran's most important customer, but the refusal of quotas and discount demands suggest that Beijing's accommodation may have limits.
A leaked letter from Iran's acting oil minister, Hamid Bovard, exposes a clandestine network of oil terminals and storage tanks in China, enabling the export of sanctioned Iranian crude. Tehran controls stakes in three terminals and has acquired seven storage tanks, facilitating direct landings of oil in China.126
The letter, obtained by *Iran International*, criticizes the oil-trading strategies of former president Ebrahim Raisi, advocating for a new model under President Masoud Pezeshkian that relies on covert cooperation with China. Bovard's account reveals that intermediaries were instructed to use sanctioned vessels at designated Chinese ports, while the foreign ministry negotiated terminal access and secured long-term leases on storage.5
China has become Iran's primary customer, purchasing over 80% of its oil exports, approximately 1.4 million barrels per day, according to Kpler figures. However, the letter indicates that China has tightened quotas and demanded deeper discounts, reflecting potential limits to its accommodation of Iranian oil.
Bovard also alleged that he took government loans to acquire ships, which he used to transport Russian oil instead of Iranian crude. He noted that the oil ministry has effectively become an agent for the business interests of Ali Shamkhani, whose shadow fleet utilizes these facilities. The revelations underscore the complexities of Iran's oil dealings amid ongoing sanctions and shifting geopolitical dynamics.4
The latest disclosures follow a report indicating that intermediaries were instructed to sell 86 million barrels of Iranian crude at an 8.5% discount, further illustrating the challenges Tehran faces in its oil trade with China.
“The letter also details how Iran's oil ministry allegedly became an agent for Hossein Shamkhani's business, with the UAE as his exclusive trading territory. Ali Shamkhani reportedly told Khamenei the discount was 50 cents a barrel under Raisi but $9 under Pezeshkian.”
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