The Impact of Iranian Oil Sanctions on The Oil Market Volatility Spillover Network

This study examines the effect of Iranian oil sanctions on the International oil market network for the first time with Complex Network Analysis (CAN) with Diebold -Yilmaz and Arch indexes from ۱۹۹۱:۰۱ to ۲۰۱۹:۱۲. The analysis was performed for two periods before and after the sanctions, and the results were compared. Results showed that the Iranian oil market in both networks before and after the sanction is one of the influential nodes in the oil network. The volatility spillover of the Iranian oil market in the oil network market has increased after the sanctions. Also, on Iranian oil, volatility spillover from other oil markets has to Iran increased after the sanction. But overall, the sanction has not had a significant impact on the oil market network. The Iranian oil market volatility was receiver before the sanction in the network, but its role changed after the sanction, and it became a sender node.

کلیدواژه ها:

Iranian oil Sanction ، Complex Network ، oil market ، Diebold-Yilmaz spillover index