Unlike the 2012-2015 Western sanctions on Iran, this time around only the United States is slapping sanctions on Iran’s economy and oil industry. But unlike in the previous round of sanctions, the U.S. Administration has now expanded the scope of the petroleum products that fall under sanctions. This time, not only crude oil, but oil products will be affected. Iran has already started to see the impact of the returning U.S. sanctions, not only on its crude oil exports, but also on its oil product flows. While analysts and market participants are estimating how much Iranian crude oil will come off the market with the U.S. sanctions, signs have started to emerge that Iran’s refined oil products and condensate flows are also being disrupted, according to an S&P Global Platts analysis , citing trade and market sources and trade flow data. Iran exports crude oil, condensates, and fuel oil, […]