Iran’s oil sales to China plummet, revenue decline deepens

"Supporting the Islamic Republic in any form, through negotiations or financial relief, betrays the Iranian people and strengthens a dictatorship that will never reform," she said in a post on X.

"Western policymakers must learn from past mistakes," she added in a shark rebuke to the idea of talks mooted by US President Donald Trump.

"The 2015 nuclear deal (JCPOA) failed because it provided a financial lifeline of billions of dollars to the regime, which it spent on its military and security forces rather than improving the lives of ordinary Iranians," she added.

Trump pulled out of that international deal in 2018 and imposed his so-called "maximum pressure" campaign of sanctions, which he renewed this month.

Still, Trump said he much preferred a deal over Iran's disputed nuclear program over any military action.

Alinejad, who is based in the United States, is a prominent voice advocating for women's rights and the overthrow of Iran's nearly 50-year-old theocracy. Iran's Islamic Revolutionary Guard Corps has plotted to kill her in exile, US law enforcement alleges.

She is in Germany for the Munich Security Conference, the premier annual forum for discussion of international security policy among top leaders.

For the third consecutive year, the organizers have excluded Iranian government representatives.

"I am pleased that Javad Zarif and Abbas Araghchi have been excluded from this conference despite all their efforts," she told Iran International in an interview on the sidelines of the conference.

"This is a positive step, but it is not enough. The West must take more fundamental steps to expel and isolate this terrorist government from all global arenas, which is certainly not an easy task," she added.

In a video post on X the previous night, referring to Iran’s exiled crown prince Reza Pahlavi's exclusion from the event, Alinejad said, "The exclusion of one of the opponents of the Islamic Republic from the Munich Security Conference is unacceptable."

"We are committed to bringing the Iranians to going back to 100,000 barrels per day of exports, as when Trump left office," Bessent told Fox News in an interview.

"Their economy is quite fragile right now. They have massive inflation, they have the gigantic budget deficit ... if we get them back to the Trump 1.0 levels. I believe that they will be in severe economic distress."

Iran exports around 1.5 million barrels per day (bpd), with China by far the biggest buyer. The so-called "maximum pressure" campaign of US sanctions on Iran starting in 2018 during Trump's first term brought exports to as low as 200,000 bpd.

Trump this month reinstated the so-called "maximum pressure" campaign on Iran from his first term, with the stated aim of driving its oil sales to zero.

Beset said the proceeds from oil sales fund Iran's "terrorist activities around the world" and described purchases by China and India as unacceptable.

The US dollar reached a new high against Iran’s currency this week and the current annual inflation rate has hovered at around 40% since 2019 according to official figures, with prices for food and other essentials rising sharply.

A series of stepped-up US sanctions beginning in October on Russian and Iranian tankers, companies and entities facilitating their oil trade is increasingly hampering oil exports which are the main source of revenue for both countries.

The shipment of 1,000 tons of sodium perchlorate was transported from China aboard the Golbon, which departed from Taicang port on January 21. The second vessel, the Jairan, has yet to depart, according to ship tracking data and intelligence sources cited by CNN.

Iran’s missile production infrastructure was severely damaged by Israeli strikes on Oct. 26 2024, which some experts believed would set back its solid propellant production by a year. However, the arrival of this shipment suggests that Iran could be resuming production sooner than anticipated.

Sodium perchlorate is a key precursor for ammonium perchlorate, an essential component in solid rocket propellant used in mid-range ballistic missiles.

Western intelligence sources cited by CNN estimate that the shipment could enable Iran to produce enough solid propellant for up to 260 Kheibar Shekan or 200 Haj Qasem missiles—both capable of reaching targets up to approximately 1,450 kilometers away.

The delivery was purchased for the Self-Sufficiency Jihad Organization (SSJO), a division of the Islamic Revolutionary Guard Corps (IRGC) responsible for missile development, according to CNN’s intelligence sources.

The Golbon and Jairan are operated by the US-sanctioned Islamic Republic of Iran Shipping Lines (IRISL), which Washington and London accuse of facilitating military-related transfers for Tehran.

Iran, lacking an effective air force, has heavily relied on developing short- and medium-range missiles, including a variety of ballistic delivery systems.

The United States and its European allies have long pushed for limits on Tehran's missile program, citing concerns that some missiles could eventually carry nuclear warheads.

Last year, Iran launched ballistic missile attacks on Israel twice, prompting the US and allied air defenses to intercept and shoot down most of the projectiles.

The Financial Times first reported on the shipment in January, citing Western security officials who estimated that the 1,000 tons of sodium perchlorate could yield 960 tons of ammonium perchlorate, producing approximately 1,300 tons of solid propellant—enough to power hundreds of mid-range missiles.

This shipment comes as Iran faces growing regional challenges, including the fall of its ally Bashar al-Assad in Syria and Hezbollah’s setbacks in Lebanon.

A bipartisan resolution, introduced in both the Senate and the House, calls on the United Kingdom, France, and Germany to trigger the “snapback” mechanism that would restore comprehensive sanctions on Iran through the UN Security Council.

The Senate version of the legislation is being led by Sen. Pete Ricketts (R-Neb.), the number two Republican on the Senate Foreign Relations Committee, with 11 cosponsors.

"Iran is the leading state sponsor of terrorism, and their actions have led to the murder of American servicemembers," Ricketts said. "Iran’s possession of a nuclear weapon would threaten our security and the security of our allies. Snapback sanctions are key to ensuring that President Trump’s maximum pressure campaign is successful."

In the House of Representatives, Reps. Claudia Tenney (R-NY) and Josh Gottheimer (D-NJ) have introduced companion legislation, urging European nations to act before key provisions of the Iran deal expire in October 2025.

"These snapback sanctions would include export controls, travel bans, asset freezes, and other restrictions on those involved in Iranian nuclear and missile activities," a press release shared on Tenney's website read.

The 2015 agreement, formally known as the Joint Comprehensive Plan of Action (JCPOA), had lifted UN, US, and EU sanctions on Iran in exchange for commitments to limit its nuclear program. The Trump administration withdrew the US from the deal in 2018, implementing a "maximum pressure" sanctions effort. In response, Iran later restricted access for international inspectors and resumed uranium enrichment beyond permitted levels.

The US lawmakers' call comes amid reports from the International Atomic Energy Agency (IAEA) that Iran is enriching uranium to 60% purity, just below the 90% threshold for weapons-grade material. IAEA Director Rafael Grossi warned that there is no civilian use for uranium enriched to such a level, raising concerns over Tehran's nuclear intentions.

With the October 2025 deadline looming, US lawmakers are pressing their European counterparts to act swiftly and decisively, warning that failure to reimpose sanctions could further embolden Iran’s nuclear ambitions.

The decision follows allegations by Israel's military that Iran’s IRGC Quds Force uses civilian flights to smuggle money to Hezbollah via Beirut airport.

“The Iranian Quds Force and the terrorist group Hezbollah have been exploiting Beirut International Airport international flights over the past few weeks in an attempt to smuggle funds allocated to arm Hezbollah with the aim of carrying out attacks against the State of Israel,” Israel's military spokesman in Arabic, Avichay Adraee, wrote on X.

The cancellation of flights from Iran to Lebanon was on Thursday confirmed by Saeed Chalondari, CEO of Tehran's Imam Khomeini Airport, who said permission had not been granted for Beirut flights.

Shortly after the cancellations, images surfaces on social media purporting to show Hezbollah supporters in Lebanon blocking the road to Beirut Airport in protest against the refusal to allow Mahan Air to land.

On Monday, Lebanese media reported that incoming flights from Iraq to Beirut are being subject to inspection to prevent the transfer of money to Iran-backed militant group Hezbollah.

Since the ceasefire began in November, both Israel and Lebanon have accused the other of dozens of breaches. Israel has accused Hezbollah of rearming after weeks of bombardment from Israel, targeting key infrastructure and the group’s top leadership.

Lebanon accuses Israel of territorial breaches and ongoing military action which has seen dozens of Lebanese killed amid the ceasefire.

Two weeks ago, Israel accused Iran of sending tens of millions of dollars to Hezbollah through clandestine cash deliveries, lodging formal complaints with the US-led committee overseeing the ceasefire, according to a report in The Wall Street Journal.

Iranian envoys have been flying into Beirut from Tehran with suitcases stuffed with US dollars to finance Hezbollah’s operations. Additionally, Israel has reported that Turkish nationals have been used as couriers to transport funds from Istanbul to Beirut, the report said.