Iran is pursuing a range of tactics to bypass the U.S. blockade, which President Trump reimposed in mid-July after negotiations collapsed, according to Iranian Oil Minister Mohsen Paknejad.

"The oil industry has not sat idle and has not stopped," Iranian media quoted the minister as saying.

"We are pursuing various solutions and different measures so that we can reach a day when we are able to completely bypass this blockade," Paknejad added.

According to the minister, Iran managed to move significant volumes of oil out of the Persian Gulf during the brief three-week window in which the U.S. blockade was lifted, between mid-June and mid-July. Iran also says it is working to boost oil and associated gas production despite the war and ongoing U.S. strikes. Crude exports have long been the backbone of Iran's economy and a primary source of government revenue, which is why the blockade strikes at the core of the Islamic Republic's finances rather than at a single sector.

Vessel-tracking services estimate that Iran's oil exports plunged in August from a year earlier following the reinstatement of the blockade in mid-July. Iran loaded around 260,000 barrels per day (bpd) for export at its ports in August, an 80% drop compared with the 1.7 million bpd loaded in August 2025, according to data from trade intelligence firm Kpler cited by CNBC. August loadings were also more than halved compared with roughly 740,000 bpd in July 2026.

Kpler and other ship-tracking services, including Vortexa and TankerTrackers.com, say the reinstated blockade has been highly effective in crippling Iranian oil exports and oil revenues. TankerTrackers.com said this week that its estimates showed Iran's oil exports plunged by 100% in August 2026 compared with the immediate pre-war baseline of January and February 2026. The gap between the minister's claims of continued deliveries and the near-zero loading figures reported by independent trackers underscores how difficult verification has become, with both sides in an information contest over the blockade's real impact.

The United States is seeking to inflict maximum economic damage on Iran through the blockade and the "Economic D-Day" announced last week.

China, Iran's top and nearly sole oil buyer, has signaled that it will not end its ties and trade relations with Iran despite U.S. sanctions targeting Chinese and Hong Kong entities accused of helping Iran do business. Because China has in recent years absorbed the vast majority of Iran's crude exports, Beijing's stance effectively determines how much of Iran's oil can still find a market, and any continued Chinese purchases risk drawing further U.S. enforcement actions against Chinese firms.

"China will do everything necessary to firmly safeguard its rights and interests," Chinese Foreign Ministry spokesperson Lin Jian said at a regular press conference after the U.S. launched "Operation Economic Outcast" against Iran.

By Charles Kennedy for Oilprice.com

Sources: Nour News, CNBC, TankerTrackers on X, Chinese Foreign Ministry