13 Hrs
Source:
المشهد
Iran's Oil Stockpiles Depleted
Reports reveal that Iran's floating oil stocks in Asia, which once reached approximately 135 million barrels valued at over $10 billion, have been completely depleted by mid-October due to the tight American naval blockade that prevented the replenishment of shipments destined for China. After the blockade was temporarily lifted in June, Iran managed to recover some of its reserves, but it experienced a sharp decline again following the re-imposition of the blockade in July, leading to exports dropping to nearly zero levels. As a result, Chinese refineries had to seek alternative suppliers from Brazil and West Africa, causing Iran’s oil revenues to fall by more than $25 billion. This deepens Iran’s economic crisis, leading to the currency losing a third of its value since July, along with rising inflation and continued pressure on living standards. The Americans aim to use this economic pressure to force Tehran into negotiations over its nuclear program or to bolster internal protests, knowing that the ongoing decline in oil revenues threatens Iran’s ability to rebuild its economic and military infrastructure.
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