How the US naval blockade has bled Iran of nearly $6bn in oil revenues

Iran's crude oil exports fell to their lowest level in six years in May 2026 due to the US naval blockade imposed by President Trump. The blockade, which began on April 13, aims to pressure Tehran into a peace deal. Iran had closed the Strait of Hormuz in late February after US-Israeli attacks, but its exports remained strong through March and April. Now the blockade is sharply reducing sales, particularly to its largest customer, China.