The president of the United States, Donald Trump, intensified pressure on Iran by putting the Strait of Hormuz blockade into effect on Monday, the 13th. The initiative targets the Islamic Republic’s main source of revenue: oil.
Information disclosed in a publication of the Wall Street Journal indicates, however, that Tehran anticipated and assembled, in recent weeks, a sizable reserve of the commodity outside the Persian Gulf, which could ensure resistance “for weeks or even months”.
According to the American publication, the current situation results from the military escalation that began on February 28, after bombings carried out by the United States and Israel against Iranian territory.
Since then, Iran has increased its oil exports, directing volumes above normal to allied countries. In this scenario, China emerges as the main destination, concentrating the bulk of purchases through independent refiners.
A Vortexa survey, cited by the newspaper, shows that Iran exported 1.84 million barrels per day in the last month. In February, the volume reached 2.15 million barrels per day, a rise of 26% compared to the projected average for 2025.
The closure of the Strait of Hormuz, coupled with Iranian threats of retaliation, would have repositioned Tehran as a key piece in the Middle East oil supply. This expanded its influence over the flow of the commodity and over the supply of countries dependent on the region.
The Wall Street Journal adds that Iran holds about 160 million barrels stored on ships positioned outside the Persian Gulf. Part of this volume would already be destined for Chinese buyers. Still, according to the newspaper, the country would have the capacity to sustain supply until mid-July given China’s current import pace.
Trump’s strategy is to force Iran into negotiations by strangling its petroleum revenues. Tehran, for its part, bets that it can withstand the effects of the blockade longer than the global economy, an assessment that, as the newspaper notes, finds support in the stocks already accumulated outside the region.
