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The White House reported that Iran has not exported any oil since the reimposition of U.S. sanctions last July, while Tehran insists it has sufficient reserves to cover this year's budget. It was explained that around 1,500 ships have transited the Strait of Hormuz loaded with 750 million barrels of oil under U.S. protection, and Iranian mines have been cleared from international shipping lanes. Conversely, Iran's floating oil reserves outside the embargo area have decreased by approximately 58%, reaching about 80 million barrels, amid a decline in the number of ships passing through the strait. This has increased pressure on Iran's economy, which is suffering a drop in exports by up to 35% due to sanctions and maritime blockade. Iran affirmed that it has enough stockpiles to meet its budget needs, while the Iranian Supreme Leader called for serious handling of the economic and living challenges, in light of declining economic activity and mounting pressures.
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