Iran hobbles through the sanctions
The country faces tough times ahead, but remains confident of weathering the economic storm
In November 2018, the US administration issued waivers to eight countries to continue importing Iranian oil, albeit at reduced volumes. Two of them, South Korea and Japan, had previously cut purchases almost to zero, so this move amounted to putting oil back on the market, and contributed to that month's slump in prices. The US also gave a waiver to Iraq to continue buying Iranian electricity and gas, recognising that destabilising Iraq's economy again would not serve other interests. In 2019, the US will return to tightening sanctions, and steadily seek to eliminate waivers. But the fact of granting them so far was a tacit admission that some countries, notably China, will continue buying I
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
