Trump’s Iran Policy Puts Focus on $30 Billion-a-Year Oil Revenue
- Nation oil exports rose by about 1m b/d since last Trump term
- Oil market monitoring incoming US president’s moves on Iran
An offshore oil platform near Lavan Island, Iran.
Photographer: Ali Mohammadi/BloombergThis article is for subscribers only.
Donald Trump could blow a $30 billion hole in Iran’s economy should he return to a maximum pressure campaign on Tehran.
Over the past four years, sanctions evasion and more relaxed US enforcement have allowed the Middle Eastern nation to boost oil exports by about 1 million barrels a day, with most of the supply going to China, according to Bloomberg’s tanker tracking data and estimates by commercial and government organizations. But that could change quickly.