China has dramatically increased its Iranian oil imports by 17 percent to 2.6 million tons during the month of June. The world's soon to become largest economy imported about 635,000 barrels of crude oil per day from Iran in June.

Thanks to Chinese rapid economic growth, the Asian giant would need increasing energy resources in the months and years ahead as compared to dwindling economies of the Western world that are rapidly deteriorating into state of total stagnation.

US and Europeans are too busy imposing a series of self-inflicted economic sanctions on Iran hoping that such measure would pressure Iran give up its domestic nuclear program. On the other hand, despite Western pressures, Tehran has managed to multiply its domestic nuclear infrastructure designed for peaceful purposes including electricity generation.

Since inflicting upon themselves the so-called sanctions against Iran, US and its European allies have undergone enormous economic transformation and are now on the verge of complete economic collapse.