Iran says it sold $23.2b of oil during war, ceasefire
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People near a billboard in Tehran on April 21 depicting a hand representing Iran holding the Strait of Hormuz.
PHOTO: ARASH KHAMOOSHI/NYTIMES
- Iran's oil ministry reported selling US$18 billion of oil during the war and ceasefire with the US, including US$11.5 billion during the war and US$6.5 billion during the ceasefire.
- These sales covered over 60% of the oil revenue forecast in Iran's yearly budget despite ongoing crises.
- The conflict began with US-Israeli strikes on Iran in February, followed by a ceasefire in April, but fighting resumed in July over control of the Strait of Hormuz.
AI generated
TEHRAN – Iran’s Oil Ministry on July 25 said it was able to sell a total of US$18 billion (S$23.2 billion) worth of oil during the war and the ensuing ceasefire with the United States.
The ministry “sold US$11.5 billion of oil during the war and US$6.5 billion during the ceasefire” that collapsed earlier.
“This covers more than 60 per cent of the oil revenues forecast in the year’s budget in the midst of the crisis,” it said.
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 Feb 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
