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Iran Rushed Out $6 Billion of Oil During Brief Truce With U.S.: Report
- During a month-long suspension of the U.S. blockade between mid-June and mid-July, Iran exported roughly 70 million barrels of oil worth $5 billion to $6 billion, rapidly rebuilding its financial reserves.
- A June 17 agreement between the U.S. and Iran withdrew the blockade, allowing tankers loaded at Chabahar to sail toward Asia, where ship-to-ship transfers in the Eastern Outer Port Limits obscured cargo origins.
- About 20 Iranian tankers arrived off Malaysia's east coast beginning in late June, with one vessel photographed unloading crude at Qingdao port on July 16, destined for Chinese refineries.
- After Iran attacked commercial ships in the Gulf on July 6 and 7, President Donald Trump ordered Central Command to restore the blockade beginning July 14, halting further exports.
- U.S. aircraft struck Iranian missile and naval sites following the blockade's restoration, yet analysts warn Tehran could still secure billions in oil revenue from vessels already in Asian waters.
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Twenty oil tankers loaded with 70 million barrels have reached Malaysian waters, where oil is transferred to the sea to hide its origin and circumvent US sanctions
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Iran used brief US truce to build $6B oil buffer: report
Iran exported roughly 70 million barrels of oil worth an estimated $5 billion to $6 billion during a month-long suspension of the US blockade, rapidly rebuilding a financial buffer before restrictions returned, The Wall Street Journal reported on Sunday. Beginning in late June, about 20 Iranian tankers carrying oil arrived in waters off Malaysia’s east...
Coverage Details
Total News Sources12
Leaning Left0Leaning Right5Center4Last UpdatedBias Distribution56% Right
Bias Distribution
- 56% of the sources lean Right
56% Right
C 44%
R 56%
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