Iran's Acting President Mohammad Mokhber during a cabinet meeting in Tehran
Washington belatedly targets Iran’s crude oil supply networks
Tehran is in a renewed political crisis, but its ability to find buyers for its crude exports hands it a lifeline
The death of President Ebrahim Raisi on 19 May portends a period of domestic political turmoil for Iran, just as US pressure on its crucial economic lifeline—crude oil exports to China—intensifies in the wake of the mid-April missile assault on Israel. Raisi’s helicopter crash may have been the result of technical issues reflecting the impact of sanctions on Iran’s air fleet, restricting the supply of spare parts. The one piece of good news that Iranian officials may clutch to is that the sanctions regime as applied to the country’s crude oil exports has been much less effective. “About 90–95% of Iran’s crude exports are going to China,” said Homayoun Falakshahi, senior oil analyst at analyt
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
