Trump Is Right—Iran Has No Cards as Blockade Clock Ticks Down to May
Summary
President Donald Trump said Iran has “no cards” left in its conflict with the U.S. because of the pressure from a blockade on its oil exports. Iran is running out of places to store oil, and if it cannot sell its oil soon, it will have to shut down oil production, which could damage its oil fields permanently and weaken its economy and political power.Key Facts
- Iran’s oil exports have been heavily reduced due to a blockade.
- Iran’s main crude oil terminal is Kharg Island, handling about 90% of its exports.
- Iran has about 39 million barrels of storage capacity onshore.
- Iran must either resume oil exports or start shutting down wells by mid-May, around May 16 to 20.
- Shutting down oil wells can cause lasting damage to mature oil fields.
- Reduced oil production and export capacity will weaken Iran’s economy and reduce its influence.
- The U.S. Navy's blockade is causing Iran’s oil system to face a strict deadline.
- Iran’s pressure in negotiations decreases as its oil storage fills and production faces shutdown.
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