By Javier Blas (Bloomberg) — Aggressive and undiplomatic, certainly, but also extremely effective. With nearly 50 days to go before new U.S. oil sanctions against Iran enter into force, President Donald Trump has already managed to crush the country’s petroleum exports, dealing severe economic damage to Tehran.
Iranian oil exports have plunged about 35 percent since April, the month before Trump ripped up the diplomatic deal that Barack Obama negotiated to curtail Tehran’s nuclear program and announced new oil sanctions.
“Iranian oil exports are coming down pretty hard,” said Roger Diwan, a veteran oil analyst at consultant IHS Markit Ltd.
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