Iran’s Export Lifeline Is Being Cut Off

Since the U.S. reinstated its blockade, no Iranian crude cargoes have successfully transited the Strait of Hormuz to China. Inventory cannot be replenished as crude piles up aboard vessels trapped inside the strait. Iran’s export lifeline is being cut off: stranded oil, finite… pic.twitter.com/isnCgq5V1T

— Treasury Secretary Scott Bessent (@SecScottBessent) September 4, 2026

… storage, and rapidly shrinking revenue.