Iran Defies Sanctions: Oil Exports Continue Amid US Blockade

Iran's oil exports have continued despite a tightened US maritime blockade and expanded sanctions. Iranian Oil Minister Mohsen Paknejad stated that 'oil sales have not stopped,' with deliveries to customers in distant waters ongoing, albeit at reduced volumes. Paknejad declined to provide specifics, citing the risk of sensitive information being exploited by adversaries.

The Strait of Hormuz oil flows had decreased from approximately 20 million barrels per day to between 8-12 million as of mid-August, with around 80% of vessels switching off their identification transponders. China is Iran's largest oil buyer, accounting for over 80% of its crude exports.

The US has launched 'Operation Economic Outcast,' a campaign targeting third countries that engage in business with Iran. Treasury Secretary Scott Bessent emphasized the goal of severing all economic lifelines supporting the Iranian regime until Tehran stands alone. However, no specific measures targeting China have been announced yet.