Iranian crude oil exports declined in May as the country prepared for the return of US sanctions, according to figures gathered by the energy consultancy Petro-Logistics.

Iran said it exported an average of 2.6 million barrels a day (b/d) in April. 

This is thought to have declined to around 2.5 million b/d in May. 

US President Donald Trump announced America’s withdrawal from the 2015 nuclear agreement on 8 May. 

Trump’s decision started a countdown for the return of US sanctions on Iran.

While many of these sanctions will return 90 days after Trump’s announcement, on 6 August, the sanctions that focus on oil and the broader energy sector will return after 180 days, 4 November. 

Currently the biggest importer of Iranian oil is China, followed by India, South Korea and Turkey.

Together the top four consume more than 60 per cent of Iran’s exports.