đź•’ Created · Updated

Abdolnaser Hemmati confirms that Iran's oil exports have completely halted due to economic pressures and US sanctions.

Abdolnaser Hemmati, Governor of the Central Bank of Iran, confirmed that Iran’s oil exports have completely halted. This official acknowledgment marks the first time a high-ranking official from the Islamic Republic has confirmed the total shutdown of exports. Hemmati noted that the sharp decline in revenues from oil, taxation, and social security premiums has severely impacted every sector of the Iranian economy, particularly due to the blocking of Iranian assets by the United States. While the administration announced a series of sanctions, the New York Times reported that US sanctions against Iran will not succeed without China’s compliance. Because China is Iran’s largest oil customer and trading partner, Beijing's cooperation is essential for the US to economically isolate Tehran. The report suggests that Washington faces a challenge in pressuring Beijing without provoking an economic response that damages American industry. This strategic dilemma is highlighted by scholars like Wu Xinbo, who views the administration's latest threats as a sign of desperation over Iran, noting that the United States is moving military assets away from the Pacific to support Middle East operations.

Sources