Iran exported roughly 70 million barrels of oil worth an estimated $5 billion to $6 billion during a month-long suspension of the US blockade, rapidly rebuilding a financial buffer before restrictions returned, The Wall Street Journal reported on Sunday.

Beginning in late June, about 20 Iranian tankers carrying oil arrived in waters off Malaysia’s east coast. The Diona was among the first vessels to reach the area, followed by the Hero II and the Sonia 1. The Stream arrived on July 13.

Analysts believe the shipments’ ultimate destination is China, which remains Iran’s principal market for sanctioned crude oil.

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Tagged: Middle East BACK TO HOMEPAGE