Blockade succeeds where sanctions failed as Iran oil exports stall

For the first time on record, a U.S. naval blockade has cut Iran’s crude exports through the Strait of Hormuz for about seven weeks, stopping flows that sanctions previously couldn’t.
Exports have collapsed—from around 2 million bpd in March to roughly 220–255k bpd in August—deepening a foreign-currency squeeze and risking even higher inflation (IMF estimates near 70%).
China can only buy oil from Iran’s floating storage as tankers pile up offshore, so available supply is shrinking and raises doubts about how long Iran can keep selling crude.