Iraq and Turkey rely on Iranian gas for energy, while China buys over 80% of Iran's crude oil amidst US economic pressure.
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Updated oct 17
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How it started
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What happened
Iraq and Turkey rely on Iranian gas for energy, while China buys over 80% of Iran's crude oil amidst US economic pressure.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- China transfers oil revenues to Turkey, utilizing the country as a destination for funds derived from Iranian oil sales amidst US sanctions.Sub-event
China dominates Iranian crude purchases as Iraq and Turkey rely on Iranian gas.1 source
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The entities involved
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Iraq
sovereign state in Western Asia
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Turkey
country in West Asia and Southeast Europe
- A regional task force involving Bulgaria, Turkey, and other entities is investigating transnational crime, including a smuggling route running from Turkey through Bulgaria toward Europe, with findings presented to the European Commission.
- SPK is identified as Turkey's capital markets regulator, and the justice ministry is noted as part of the government.
Related events
- Turkey secures new energy and defense deals, including a diesel supply from Russia and reliance on Azerbaijan, while seeking US partnerships.
- Deepening ties between Türkiye, Iraq, and Syria across security, energy, trade, and infrastructure sectors.
- Renewed Iran war risks undoing progress as the Iran conflict impacts oil prices and markets, alongside Trump's support for the Iraqi PM.
- Iran faces multiple border bottlenecks with neighbors like Turkey, Afghanistan, Turkmenistan, and Pakistan, coinciding with US economic pressure.
- Iraq, Jordan, and Egypt are identified as potential electricity markets, with plans for regional connections involving Oman, UAE, and Pakistan.