👉 China buys more than 80% of Iran’s oil exports and, for this reason, will be an important target of US secondary sanctions.

Shipping through the Strait of Hormuz has nearly come to a halt; on Thursday alone, only four cargo ships transited, and none of them was a large oil tanker or an LNG vessel.

Iran has issued special transit permits for some Iraqi oil tankers.

The US says it has been able to move about 8 million barrels of oil per day through Hormuz; while before the war this figure was more than 20 million barrels per day.

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