Iran’s Ministry of Oil announced on Saturday that the country generated a total of $18 billion in oil revenue during the period of conflict with the United States and the subsequent ceasefire.
In a statement published on its official website, the ministry said it sold $11.5 billion worth of oil during the war and an additional $6.5 billion during the ceasefire, which collapsed earlier this month.
The ministry added that these revenues account for more than 60% of the oil income projected in the country’s annual budget, despite the ongoing crisis.
In late June, Mohammad Bagher Ghalibaf, Speaker of Iran’s Parliament and the country’s chief negotiator, said Iran had been unable to export a single barrel of oil during the U.S.-imposed blockade of its ports.
The current conflict began on February 28, when U.S. and Israeli strikes targeted Iran, prompting Tehran to retaliate by attacking U.S. allies in the region.
A ceasefire announced in April largely halted military operations, but hostilities resumed in early July as tensions between the United States and Iran intensified over control of the strategic Strait of Hormuz.
Source: AFP
