Oil Exports From Iran Surge, Despite Sanctions

Iran’s energy sector has been subject to U.S. sanctions since 2018
A picture taken on March 12, 2017, shows an Iranian labourer walking the platform of the oil facility in the Khark Island, on the shore of the Gulf. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

At a glance

  • Despite ongoing U.S. sanctions, Iran’s oil exports hit their highest level since 2019 amid strong demand from Venezuela and China.
  • President Joe Biden has been attempting to re-enter the Iran nuclear deal, but talks have stalled.
  • “In comparison to the Trump administration, there hasn’t been any serious crackdown or action against Iran’s oil exports,” according to an expert from SVB International.

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