Is the US's current strategy on Iran's oil sanctions working?

Context

The U.S. has maintained economic sanctions on Iran's oil exports for decades to pressure its government on nuclear and regional security concerns. The effectiveness of this strategy is contested: supporters argue sanctions constrain Iran's economy and nuclear ambitions, while critics contend they've failed to change Iranian behavior and instead pushed Iran toward alternative trading partners like China and India. Recent tensions over the Strait of Hormuz—through which roughly one-third of global seaborne oil passes—have intensified debate about whether current sanctions are achieving their stated objectives or merely destabilizing global energy markets.