The increase in Iranian crude oil storage in Malaysian waters and the reduction in Chinese imports from the country following severe US sanctions have presented serious challenges to the flow of Iranian oil trade. With more than 30 million barrels of oil accumulated in stranded tankers, Iran is struggling to protect its market from geopolitical pressures.

China's imports of Iranian crude oil fell last month, according to data firm Kepler.

Despite Trump's explicit threats and pressure from Washington, China and India continue to import cheap oil from Russia and Iran, a decision rooted in economic interests and an independent energy policy. Could this move pose potential risks for them from Trump?

The chairman of the National Development Fund's executive board said: "The National Oil Company directly and indirectly owes about $17 billion to the Development Fund."

The "Executive Plan for Transparency of Revenues and Expenditures of the National Iranian Oil Company," subject of Section 18 of Article 119, was discussed at today's meeting of the Steering Council of the Seventh Progress Program.

In response to US calls to stop buying oil from Iran and Russia, China's Foreign Ministry stressed that Beijing will not change its energy policy under external pressure.

Karun Oil and Gas Exploitation Company has taken a major step in increasing production capacity by implementing technical and operational reforms in upstream and downstream facilities, while stabilizing daily production of 55,000 barrels of crude oil.

The Deputy CEO of the National Iranian Drilling Company announced the drilling and completion of 48 oil and gas wells in the first four months of this year in the country's onshore and offshore areas.

In the 14th round of oil sanctions since 2018, the United States imposed the most extensive set of sanctions against Iranian oil exports.

The average price of Iranian heavy oil in 2024, based on statistics provided by the Organization of the Petroleum Exporting Countries (OPEC), was $79.71 per barrel.