Politics
US blockade cuts Iran's oil exports to zero for first time in over a decade
October 6, 2026 at 05:02 AM
The US blockade has halted Iran's crude exports for the first time in over a decade as Tehran faces record inflation and a collapsing rial.
- Iran loaded no crude onto tankers in September, its first month without exports since tracking began in 2013.
- US Treasury Secretary Scott Bessent said Iran loaded no oil last month and its rial hit record lows, calling these results of Operation Economic Outcast.
- Iran's economy shrank at an annual rate of 10 percent between March and June, with inflation at 90 percent, its highest since World War II.
- Iran's presidential office accepted the oil minister's resignation amid fuel station queues after US sanctions tightened.