US blockade cuts Iran oil exports more than 80% in August
Why it matters: Tehran says trade has shrunk by about a third, with inflation at 66% and talks over Hormuz still stalled.
A US naval blockade has driven Iran’s crude export loadings down to about 260,000 barrels a day in August, more than 80% below the 1.7 million barrels a day loaded in August 2025, according to Kpler data cited by CNBC. The Trump administration reimposed the blockade on July 14 after Iran attacked tankers in the Strait of Hormuz and has paired it with a broader sanctions push aimed at isolating Tehran financially. Iranian President Masoud Pezeshkian said exports and imports have fallen nearly 35%, while annual inflation hit 66% in July. Iran says it will keep pursuing diplomacy and maintain control over Hormuz, even as negotiations remain deadlocked and two tankers were attacked this week in or near the waterway.