China reduces Iran's oil exports
Iran is facing a severe economic crisis that is worsening due to the American blockade. The collapse of oil export revenues has led to a significant depreciation of the national currency and a surge in inflation, estimated between 70% and 100%. The exchange rate of the dollar in the free market has exceeded 2.7 million rials, and the Central Bank's efforts to halt the collapse have failed. Additionally, Iran's ability to control its resources has diminished, as it has lost much of its capacity to close the Strait of Hormuz, reflecting a deterioration in its strategic leverage. Conversely, Chinese trade with Iran has drastically decreased as a result of the sanctions, with Beijing suspending exports of refined petroleum products and reducing shipments. It is expected that the Iranian economy will continue to suffer significant damage until June 2027, due to shortages of essential goods and a decline in civil services.
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