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

Also in this section
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors
5 February 2025
Growing appetite for LNG reinvigorates discussions between China and Myanmar, but civil war may prevent talk becoming action
5 February 2025
With new capacity, buyers must navigate sanctioned Russian crude, a return to traditional OPEC barrels and diversity of supply