Iran's Acting President Mohammad Mokhber during a cabinet meeting in Tehran
Washington belatedly targets Iran’s crude oil supply networks
Tehran is in a renewed political crisis, but its ability to find buyers for its crude exports hands it a lifeline
The death of President Ebrahim Raisi on 19 May portends a period of domestic political turmoil for Iran, just as US pressure on its crucial economic lifeline—crude oil exports to China—intensifies in the wake of the mid-April missile assault on Israel. Raisi’s helicopter crash may have been the result of technical issues reflecting the impact of sanctions on Iran’s air fleet, restricting the supply of spare parts. The one piece of good news that Iranian officials may clutch to is that the sanctions regime as applied to the country’s crude oil exports has been much less effective. “About 90–95% of Iran’s crude exports are going to China,” said Homayoun Falakshahi, senior oil analyst at analyt
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