Iran's oil exports to China plummet under U.S. sanctions

Iran has seen a sharp decline in oil exports to China following the reimposition of U.S. sanctions on July 13, 2026. Analysts report that offers for September and October shipments have decreased, with no Iranian supertankers crossing the Strait of Hormuz since the blockade. China, which previously imported about 1.4 million barrels per day, is now facing tighter supplies and has begun sourcing oil from alternative countries.