Lagos — The United States has intensified its pressure strategy on Iran by imposing new sanctions targeting the Persian country’s crude oil sector. This time, the measures affected Iranian companies, and a Chinese refinery was accused of purchasing over one billion dollars worth of Iranian crude oil.
This decision reinforces the “maximum pressure” policy initially implemented during the Trump administration, whose main objective is to bring Iranian oil exports down to zero to hinder the financing of its nuclear program.
A key focus of these sanctions is the so-called “shadow fleet,” a network of vessels and companies used by Tehran to sell crude oil covertly. These ships often operate without clear identification, with tracking systems turned off and modified routes to evade international monitoring. Washington has identified several vessels and companies linked to these operations, blocking their access to the global financial system and further complicating their activities.
The Office of Foreign Assets Control (OFAC) has also updated its guidelines for the maritime sector. The new recommendations aim to alert shipping companies, insurers, and brokers about the legal and financial risks of participating, directly or indirectly, in crude oil trade with Iran. Through these measures, the U.S. government seeks to close further the channels through which Iranian crude reaches international markets.
However, China continues to play a key role in this complex scenario. Despite the restrictions imposed by Washington, the Asian giant remains the primary buyer of Iranian crude oil. To bypass the sanctions, it has developed alternative financial mechanisms that avoid the use of the U.S. dollar, including local currencies, barter deals, and parallel banking networks. This strategy allows Beijing to maintain energy flows without fully exposing itself to U.S. economic penalties.
Meanwhile, the diplomatic conflict between Iran and Western powers continues to escalate. Talks over Iran’s nuclear program are ongoing, though progress remains limited. Tehran insists its program is purely for civil and energy purposes, but Western governments, led by the United States, suspect covert military intentions. These differences have hindered the full reinstatement of the 2015 nuclear deal, from which Washington withdrew in 2018.
The sanctions also have broader repercussions on the global energy market, affecting crude oil prices and creating uncertainty in regions dependent on imported crude. Moreover, they heighten geopolitical tensions in the Middle East, where the rivalry between Iran, Israel, and the United States keeps the region at constant risk of new confrontations.
In conclusion, the new wave of U.S. sanctions represents a significant escalation in its policy toward Iran, aimed at cutting off its crude oil revenues and curbing its nuclear development. However, the persistence of actors like China and the complexity of global trade make it difficult for these measures to be fully effective. The conflict surrounding Iranian crude oil remains a critical flashpoint in international geopolitics in a context where diplomatic tensions and strategic interests are deeply intertwined.”
*Analysis by Antonio Di Giacomo, Financial Markets Analyst for LATAM at XS
