Revolutionary Guards Tighten Grip on Iran’s Oil Exports

OilPrice · Tsvetana Paraskova · last updated December 18, 2024 – 2:45 AM

The Islamic Revolutionary Guard Corps (IRGC), Iran’s most powerful armed force defending the regime, has increased their influence over Iranian oil exports and is estimated to control half of these, Western officials and Iranian insiders have told Reuters. Despite U.S. sanctions on the Iranian oil industry and exports, the Islamic Republic continues to export an estimated more than 1 million barrels per day (bpd) of oil, mostly to China. During his first term in office, U.S. President-elect Donald Trump tore up the so-called Iran nuclear…

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