Conflict & Security
Iran's oil revenues collapse under US blockade as war costs strain Washington
September 6, 2026 at 07:29 AM
Coverage
5 reports · over 49 hours
Six months into the US-Iran war, Washington's oil blockade and sanctions have slashed Iran's exports and wrecked its currency while fuel prices and munitions shortages strain the US at home.
- The US Treasury has sanctioned Turkish bank Golden Global over suspected ties to Iran's Revolutionary Guard, and Secretary Scott Bessent warned further sanctions could follow.
- After Washington reimposed its naval blockade of Iranian ports in July, shipping data showed Iranian crude exports fell from about 1.7 million barrels a day to roughly 260,000.
- The Pentagon has run polygraph tests on about 50 Joint Chiefs staff over leaks about dwindling ammunition stockpiles, and spokesman Sean Parnell said the department takes all classified-information leaks seriously.
- US gasoline and diesel prices have hit their highest levels since 2022, with the administration's release of 128 million strategic-reserve barrels failing to bring pump prices down.
