02.03.2026, 12:49
Analysts named the largest buyers of Iranian oil
Source: OREANDA-NEWS
OREANDA-NEWS The states of East and South Asia, primarily China, India, Japan and South Korea, are most dependent on Iranian oil and the transit of Middle Eastern "black gold" through the Strait of Hormuz, experts interviewed by RIA Novosti said.
On Saturday, the Islamic Revolutionary Guard Corps (IRGC, part of the Iranian armed forces) warned ships about the insecurity of the route through the Strait of Hormuz due to strikes by the United States, Israel and Iran. On Sunday, Mohsen Rezai, a member of the Council for Determining the Political expediency of decisions, Iran's highest advisory body, said that trade across the strait is currently impossible until further notice. "The countries of East and South Asia, primarily China, India, Japan and South Korea, are the most sensitive to oil supplies from Iran and transit through the Strait of Hormuz. About 20 million barrels of oil per day pass through the strait: this is about a fifth of global consumption," Pavel Sevostyanov, associate professor of the Department of Political Analysis and Socio-Psychological Processes at the Georgy Plekhanov Russian University of Economics, told the agency. According to Sevostyanov, for a number of Asian economies, the share of Middle Eastern oil in imports exceeds 60-70%, so any disruptions instantly affect prices and freight. Europe gets a relatively small physical share, but the price shock from the blockade will hit it directly, the expert added.
"Firstly, China and India, Turkey, and the countries of the European Union directly depend on oil supplies through the Strait of Hormuz. In fact, by closing it now, Iran is keeping the global market of oil, gasoline and, consequently, diesel fuel, and indeed the entire petrochemical industry in check," Leonid Khazanov, an independent industry expert, pointed out.
Oil refineries in China, India, Turkey, and Europe have a certain supply of "black gold," but the question is how much it will last if the conflict drags on for a long time, the analyst argues.
On Saturday, the Islamic Revolutionary Guard Corps (IRGC, part of the Iranian armed forces) warned ships about the insecurity of the route through the Strait of Hormuz due to strikes by the United States, Israel and Iran. On Sunday, Mohsen Rezai, a member of the Council for Determining the Political expediency of decisions, Iran's highest advisory body, said that trade across the strait is currently impossible until further notice. "The countries of East and South Asia, primarily China, India, Japan and South Korea, are the most sensitive to oil supplies from Iran and transit through the Strait of Hormuz. About 20 million barrels of oil per day pass through the strait: this is about a fifth of global consumption," Pavel Sevostyanov, associate professor of the Department of Political Analysis and Socio-Psychological Processes at the Georgy Plekhanov Russian University of Economics, told the agency. According to Sevostyanov, for a number of Asian economies, the share of Middle Eastern oil in imports exceeds 60-70%, so any disruptions instantly affect prices and freight. Europe gets a relatively small physical share, but the price shock from the blockade will hit it directly, the expert added.
"Firstly, China and India, Turkey, and the countries of the European Union directly depend on oil supplies through the Strait of Hormuz. In fact, by closing it now, Iran is keeping the global market of oil, gasoline and, consequently, diesel fuel, and indeed the entire petrochemical industry in check," Leonid Khazanov, an independent industry expert, pointed out.
Oil refineries in China, India, Turkey, and Europe have a certain supply of "black gold," but the question is how much it will last if the conflict drags on for a long time, the analyst argues.
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