Brett

Sanctions have had a devastating impact on Iran’s oil production and exports, preventing much-needed investment in the country’s ageing fields and barring it from legally exporting crude oil to global customers. Using a range of evasion tactics, however, Iran has succeeded in circumventing sanctions and maintaining a steady — albeit much lower — level of crude exports. The Gulf’s complex regional oil market has facilitated these tactics, providing the perfect environment for trade in oil that U.S. sanctions designate as illicit.

In recent weeks, power outages and severe air pollution have plagued Iran’s major cities.