Iran’s oil exports surged to $150M+ per shipment as its Revolutionary Guard Corps (IRGC) tightens control over smuggling routes and shipping logistics. Despite U.S.-Israeli strikes, Tehran’s decentralized oil network—backed by shadow banks and Chinese buyers—has maintained daily crude sales of 2.4M-2.8M barrels, matching pre-war levels. China’s “teapot” refineries, numbering 100+ in Shandong, absorb 90% of Iran’s oil, though sanctions pressure has narrowed discounts to $7-12/barrel from $18-24. The IRGC’s grip on Hormuz Strait operations and use of spoofed transponders and forged documents ensures tankers evade detection, while U.S. sanctions waivers for stranded vessels are dismissed as traps.
Source: Hacker News · Summarized by HeadlinesBriefing