▲ Crude oil tankers, bulk carriers, and other vessels are anchored near Port Sultan Qaboos in Muscat, Oman.
The Wall Street Journal reported that Iran is estimated to have exported nearly 9 trillion won worth of crude oil over the approximately one month since the United States lifted its maritime blockade on the country in mid-June.
According to United Against Nuclear Iran (UANI), a U.S.-based advocacy group that monitors Iran, the volume of crude oil exported by Iran from mid-June to mid-July reached approximately 70 million barrels.
The value of the crude oil exported during this period is estimated to be between 5 billion and 6 billion dollars, or approximately 7.45 trillion to 8.94 trillion won.
Analysts believe that the final destination for the crude oil is China.
In fact, since late June, about 20 Iranian oil tankers fully loaded with crude have consecutively gathered in the waters off the east coast of Malaysia, which is used as a transshipment hub for cargo bound for China.
The newspaper reported that the Iranian tankers used a method of transferring the crude oil to other tankers in waters outside Malaysian territorial waters before transporting it to China's small-scale private refineries, known as "teapot refineries."
Iran exported approximately 50 million barrels in late June alone, which is equivalent to the amount of Iranian crude oil that was headed to China in a single month before the war.
Analysts projected that as the number of Iranian tankers arriving in waters near Malaysia has increased significantly, billions of dollars in crude oil sales revenue will flow into Iran over the coming months.
(Photo: Getty Images)
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