️🇮🇷🇺🇸🇨🇳 WSJ: Iran's offshore crude oil reserves stored aboard its fleet of shadow tankers in Asian waters have been depleted after months of a US naval blockade. Before the war, Tehran held about 135 million barrels overseas, much of it near Malaysia and Singapore, allowing it to continue supplying China and generating billions of dollars in revenue despite the sanctions.

️🇮🇷🇺🇸🇨🇳 WSJ: Iran's offshore crude oil reserves stored aboard its fleet of shadow tankers in Asian waters have been depleted after months of a US naval blockade. Before the war, Tehran held about 135 million barrels overseas, much of it near Malaysia and Singapore, allowing it to continue supplying China and generating billions of dollars in revenue despite the sanctions.

The embargo prevented Iran from replenishing those reserves, with remaining volumes falling below 1 million barrels by early October before being depleted. US Central Command said the blockade has deprived Tehran of at least $25 billion in oil revenue, further straining an economy already grappling with inflation, currency devaluation and widespread shortages. Despite the pressure, Iran has sought alternative export routes, including land transport, while Chinese refiners are increasingly turning to other suppliers. These alternatives cannot replace exports carried by sea, even though the Iranian government claims that its economy remains resilient and that the country can withstand the prolonged pressure.