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Tehran has shipped out nearly 3 million barrels to raise money that could be used to shore up its allied militias in the ...

Some of the people were quoted as saying that Iran has earmarked the gains from selling the oil to the Islamic Revolutionary Guard Corps (IRGC), which arms and funds Tehran’s militia allies ...

But the stranded oil, worth $1.75 billion at today's prices, highlights the challenges Iran is facing with selling oil even in China. Iran's Oil Ministry did not respond to a request for comment.

It isn’t the first time Iran has sought to draw down and sell the oil, the people said, but Beijing hadn’t previously given the greenlight. A Chinese Foreign Ministry spokesperson said they ...