That makes December the critical month as the last Iranian oil shipments already outside the blockade zone make their way to Chinese buyers.
According to Kpler, just eight million barrels of Iranian crude remain on the water outside the blockade, down from nearly 90 million barrels in mid-July. Falakshahi expects those remaining shipments to be discharged by around October 18.
With Chinese refiners typically taking another one to two months to settle payments, Tehran could receive its final proceeds from those shipments by mid-December.
The looming revenue shortfall follows a halt in Iranian oil shipments. Kpler data shows that Iran loaded no crude oil or condensate onto tankers throughout September, the first full month without loadings since the 1979 Islamic Revolution.
The last recorded loading took place around August 26 or 27.
