U.S . NAVAL BLOCKADE THREATENS TO END IRAN OIL REVENUES BY DECEMBER

What happened: A U.S. naval blockade threatens to wipe out Iran's seaborne crude oil revenues by mid-December, with trackable floating oil inventory outside the blockade zone falling to zero, according to Kpler. Key numbers: Oil is roughly 30% of Iran's government budget; oil and refined products are 50% to 60% of regime Why it matters: Analysts expect non-military spending to be cut sharply while military spending is maintained or increased, so the pressure may fall more on ordinary Iranians than on the military. The bigger test may come in March, when Iran's new fiscal year begins.

A U.S. naval blockade threatens to wipe out Iran's seaborne crude oil revenues by mid-December, with trackable floating oil inventory outside the blockade zone falling to zero, according to Kpler.

Analysts expect non-military spending to be cut sharply while military spending is maintained or increased, so the pressure may fall more on ordinary Iranians than on the military. The bigger test may come in March, when Iran's new fiscal year begins.