Iran's oil exports have decreased to nearly zero due to US naval sanctions. According to experts, this situation signifies an economic stranglehold for Tehran and a lack of likelihood for a close agreement between the two parties.
Export and Shipment Status
According to received information, only about 200,000 to 300,000 barrels of Iranian oil are reaching global markets daily through Iraq. Meanwhile, no shipments of Iranian crude oil have been loaded in September and October. This is the first time since the war began in February that such a situation has arisen.
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US naval sanctions have effectively halted Iran's oil exports, while at least 54 oil tankers carrying oil and other petrochemical products are stranded off the coasts of Iran. Only some small ships have managed to break through this blockade, and about 11 ships carrying Iranian liquefied gas have successfully passed through the blockade.
Economic and Political Consequences
Experts state that the current state of oil exports has severely impacted Iran's economic revenues, and by the end of November, Iran will face serious financial problems. Meanwhile, Trump, the President of the United States, appears to be politically weakened following the midterm elections, allowing Iran to raise its demands.
Fereydoun Fesharaki, former head of FGE, has stated that Tehran is currently making demands that the White House cannot respond to. This situation indicates a further distance between the two parties from reaching a peace agreement.
Moreover, the current situation is such that the likelihood of increased attacks on Iran has risen, as Trump and Benjamin Netanyahu, the Prime Minister of Israel, have only a limited time to act. Despite Trump's repeated threats of new attacks on Iran, global oil prices are declining.
Overall, US sanctions and naval blockades have significantly complicated Iran's economic situation and impacted the peace negotiation process. Given these circumstances, there is no bright outlook for Iran's oil exports and existing political agreements.
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