Iran's crude oil exports drop to zero in September under US pressure
US Treasury Secretary Scott Bessent revealed that Iran did not load any crude oil onto tankers in September, marking a significant shift in the country's energy exports. Bessent attributed this development to the Trump administration's Operation Economic Outcast, which aims to sever Tehran's economic lifeline by restricting its access to global energy markets.
In a post on X, Bessent stated that Iran is set to complete its remaining oil shipments to China within the next two weeks, leaving the country with 'nothing left to trade for anything.' He noted that only about 15 million barrels of Iranian oil remain out for delivery, highlighting the dwindling shipments as evidence of Tehran's economic isolation due to the operation.
Bessent also emphasized that the goal of Operation Economic Outcast is to ensure Iran adheres to the terms of a potential future deal. He urged European partners to accelerate deliveries of existing energy commitments and make additional supplies immediately available to address ongoing disruptions in the global energy market.
US Energy Secretary Chris Wright expressed confidence in Europe's ability to help curb rising global fuel prices by tapping into emergency diesel fuel reserves. He stressed the need for a coordinated release of diesel stores as the world approaches harvest season and the winter heating oil season.