Iran Enjoyed an Oil Windfall as It Was Being Bombed

Bloomberg: “Tehran must surely have assumed its oil exports would be halted during a war with the US, especially if it closed the Strait of Hormuz. But seven weeks into the war, and despite having closed the waterway, Iran has enjoyed a windfall instead of economic pain.”

“During more than 40 days of fighting, Washington has let Tehran load as many oil tankers as it wished, profiting from rising prices. An even bigger gift was the White House temporarily lifting sanctions on Iranian barrels; rather than having to sell crude at a discount, the Islamic Republic was able to charge a premium.”