Fuel exports (% of merchandise exports)
Fuel exports (% of merchandise exports)
Event_Log
012018US withdraws from JCPOAAssociation
President Trump announces US withdrawal from the JCPOA and reimposition of sanctions after 90/180-day wind-down periods (effective Aug 7 and Nov 5, 2018).
Why this link: Fuel's share of merchandise exports fell from 68.7% (2018) to 38.5% (2019, -30.2 points) to 29.2% (2020, a further -9.4 points) -- a much sharper proportional collapse than total merchandise exports overall, showing sanctions hit oil exports specifically harder than non-oil trade, which proved comparatively more sanctions-resilient (informal/regional trade, petrochemicals reclassified outside the 'fuel' HS code, etc.).
Caveat: WDI's Iran series for this indicator has real gaps (missing 2007-2009, 2012, missing post-2022) reflecting Iran's own patchy trade-data reporting under sanctions -- the 2018-2020 window used here is one of the few clean, complete runs in the series.
Lag: immediate, deepening through 2020Source: Wikipedia — US withdrawal from the JCPOA (cross-check against OFAC primary orders)
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