Following the lifting of U.S. maritime sanctions against Iran, the country is estimated to have exported up to $6 billion worth of oil over the past month. Analysts suggest that Iran has significantly increased its oil shipments to China, securing substantial cash flow.
According to the Wall Street Journal (WSJ) on the 18th, the Iran Nuclear Weapons Nonproliferation Coalition (UANI) estimates that Iran exported approximately 70 million barrels of oil from mid-June to mid-July, with total export revenues reaching between $5 billion and $6 billion (approximately 7.45 trillion to 8.94 trillion won).
Most of these exports are believed to have been directed toward China. Since late June, around 20 Iranian oil tankers have gathered off the eastern coast of Malaysia, which serves as a transshipment hub for oil bound for China.
Reports indicate that Iranian tankers have been transferring oil to other vessels outside Malaysian waters before sending it to small private refineries in China, known as 'teapot refineries.'
In late June alone, Iran is estimated to have exported about 50 million barrels, equivalent to roughly a month's worth of pre-war oil shipments to China.
Analysts predict that the surge in Iranian tankers heading toward Malaysia will result in billions of dollars in additional oil sales revenue flowing into Iran over the coming months.
Charlie Brown, an analyst at UANI, stated, “If the sanctions had continued, Iran would have faced significant economic pressure. By rapidly increasing oil exports after the sanctions were lifted, Iran has regained some financial resilience.”
The WSJ noted that the funds generated from oil exports could become a crucial resource for Iran, which is grappling with severe economic difficulties. In the context of escalating tensions with the U.S., the money secured during the sanctions relief period has bolstered Iran's capacity to respond.
* This article has been translated by AI.
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