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So much for Biden’s sanctions against Iran: Oil exports hit new highs in last two months

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Iran Supreme Leader

Despite the violence Iran has inflicted against protestors and global cries for its government to face consequences, the regime has been experiencing some financial success. “Oil exports from the Islamic Republic of Iran hit new highs in the last two months of 2022 and are making a strong start to 2023, despite United States sanctions, according to companies that track the flows on higher shipments to China and Venezuela” reports National Review.

Ayatollahs have been boasting about their ability to fund terrorist groups in the Middle East with the revenue. Reports show Iran’s oil exports decreased after former President Donald Trump exited the 2015 nuclear accord in 2018. The Trump administration also reimposed sanctions to curb oil exports.

During President Joe Biden’s time in office, however, oil exports have surged as his administration discusses reviving the nuclear deal. Estimates say oil has hit record sales since 2019. “According to the energy analyst company Vortexa, China’s December imports of Iranian oil hit a new record of 1.2 million BPD, up 130 percent from a year prior“ reports Foreign Desk News.

Sara Vakhshouri, an officer at SVB, noted that in comparison to the Trump administration, “there hasn’t been any serious crackdown or action against Iran’s oil exports.”

“January exports were so far strong like previous months. Lower Chinese demand and Russia’s supply to China have been a major challenge for them. Most of its oil still goes to the Far East, to China. Iran also helps Venezuela to export its oil,” said Vakhshouri.

Len Khodorkovsky, former State Department official under the Trump administration, said “It’s no mystery why the Iranian regime has been able to sell more oil – the Biden administration let it by not enforcing U.S. sanctions. This failure has not only allowed the regime to fill its coffers and fund the daily executions of innocent Iranians but also empowered the Chinese government – America’s top adversary and perpetrator of the Uyghur genocide.”

Foreign Desk News reports:

Last year, the Treasury Department imposed sanctions on an oil smuggling ring linked to Iran’s Islamic Revolutionary Guards Corps (IRGC).

Organizations like Consultant Petro-Logistics, which tracks oil supply, explained it also saw an upward trend in Iranian crude exports which, in its view, in December reached their highest level since March 2019.

Data intelligence firms like Kpler also put Iranian crude exports at 1.23 million BPD in November, the highest since August 2022 and almost on par with April 2019’s rate of 1.27 million BPD even though they slipped below 1 million BPD in December.

China is the regime’s biggest customer, and to evade sanctions, most of Iran’s crude exports to China are rebranded as crude from other countries.

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