The Blockade is Costing Iran $400 Million a Day in Lost Oil Revenue
The squeeze is on.
May 6, 2026 by Hugh Fitzgerald 4 Comments
The blockade of Iranian ports has led to a 90% drop in Iranian oil exports. Estimates are that the blockade is costing Iran $400 million a day in lost oil revenue. And Iran is no longer able to receive shipments of food and medicines from its traditional suppliers abroad, who are now blocked from using Iranian ports. How long can the Islamic Republic survive under such conditions?
Oil constitutes some 85 percent of Iran’s exports. And now, because of the blockade, none of that oil can now be shipped abroad. Iranians are now living meagerly on whatever reserves they may have saved from former years, a sum which is asymptotically approaching zero. And that American blockade that shows no signs of ending — certainly not until the Iranian leaders agree to hand over to a third party the 144 lbs. of uranium enriched to a level of 60% that Tehran possesses. Oil continues to be produced, and is now filling all the “parked tankers” floating just offshore in the Gulf and all the storage tanks on Kharg Island. But both are now filled close to capacity, with no end to the flow of oil from the wells in sight.
The blockade of Iran’s ports has put the Islamic Republic in the worst condition it has ever been. It can’t export the oil, which is now filling up both tanker ships and storage facilities on line, and they will be totally filled by mid-May. What then? Assuming the American blockade of Iranian ports remains in force, there will be no place to put the oil, and the government will have to halt its production. But that will have serious consequences for oil production in the future. When oil is no longer being pumped, it affects the quality of the oil in the wells.
https://www.frontpagemag.com/the-blockade-is-costing-the-islamic-republic-of-iran-400-million-a-day-in-lost-oil-revenue/
