Iran’s Oil Sales Reach $18 Billion Amid War And Ceasefire

Iran’s oil ministry on Saturday said it was able to sell a total of $18 billion worth of oil during the war and the ensuing ceasefire with the United States.

“The ministry sold $11.5 billion of oil during the war and $6.5 billion during the ceasefire” that collapsed earlier this month, the ministry said in a statement carried by its official website.

“This covers more than 60 percent of the oil revenues forecast in the year’s budget in the midst of the crisis,” it added.

In late June, however, Iran’s parliament speaker and chief negotiator Mohammad Bagher Ghalibaf had said that Iran was unable to export any oil during the US blockade on its ports.

US-Israeli strikes on Iran sparked the war on February 28, prompting Iran to retaliate against US allies in the region.

An April ceasefire largely put an end to fighting, but hostilities resumed earlier in July as the two foes battle over control of the vital Strait of Hormuz.

AFP