Iran Dreams of Smiling Wake-Up: Sanctioned by the U.S. for 40 Years, Fighting Back Made Them Richer?

Iran has been squeezed by the U.S. for 40 years—oil exports dropped from 2.5 million barrels per day to 400k, currency devalued threefold in three years, 1 USD equals 1.45 million rials, food prices surged 72%, nationwide protests ongoing. Logically, the economy should have collapsed long ago, but after a direct confrontation with the U.S., two new revenue streams unexpectedly opened.
First: China Pays, Renminbi Leads the Way
Iran was kicked out of SWIFT, and the dollar was frozen solid. But China needs oil, and Iran has oil. In 2021, China and Iran signed a 25-year agreement, with China investing 400 billion USD. Iran supplies China with 1 million barrels of crude oil daily, paid directly in RMB! Kunlun Bank handles the settlement, Iran now holds 180 billion RMB, and can buy Chinese goods without currency exchange, still not frozen by the U.S.
After the conflict started, oil prices soared to $112 per barrel, and Iran earns an extra $24 million daily. Even more impressively, Iran turned the Strait of Hormuz into a toll station—want safe passage? Oil transactions must be settled in RMB. Some oil tankers have already paid $2 million in “toll fees,” marking RMB’s first use as a settlement currency on this vital artery. One-fifth of the world’s crude oil passes through here, and Iran has seized control of the global energy choke point.
Second: Russia Steps In, Energy Worries Gone
Russia supplies Iran with gas—400k cubic meters annually—and has invested $4 billion to develop Iranian oil fields. The two signed a long-term strategic treaty, with Russia promising to supply gas if Iran lacks it. This route runs through the Caspian Sea, and the U.S. Navy can’t block it.
In the east, RMB settlement secures income; in the north, Russia ensures energy security. Iran still exports over 2.4 million barrels of oil daily, nearly doubling income, plus tolls from the Strait of Hormuz bring in tens of millions of dollars daily.
Of course, ordinary people still suffer—official inflation at 42%, food prices up 72%. But at least, Iran doesn’t have to worry about how to survive tomorrow. The two paths forced out by the U.S. have instead become lifelines.