Washington: Iranian oil shipments have not passed through the Strait of Hormuz to China since the resumption of the naval blockade

U.S. Treasury Secretary Scott Bessent stated that Iranian oil shipments have not successfully transited the Strait of Hormuz bound for China since the United States resumed enforcing a naval blockade on Iranian ports. Bessent, in a post on the social media platform X on Friday, said, “Since the United States resumed enforcing the blockade, no Iranian crude oil shipments have successfully transited the Strait of Hormuz bound for China.” He added that “Iran cannot replenish its oil reserves amid crude piling up on tankers stranded within the strait,” affirming the effectiveness of the “economic strangulation” measures against Iran. In this regard, he noted, “This is how Iran’s lifeline for exports faces the risk of disruption, given stranded oil, limited storage capacity, and rapidly declining revenues.” The United States launched the “Economic Outcast” operation on August 24 last year, a campaign aimed at cutting off the financial and trade channels Iran relies on and tightening sanctions on entities that assist it in circumventing sanctions or generating revenue. The campaign includes expanding secondary sanctions, threatening entities that continue to deal with Iran with exclusion from the dollar-based financial system.