$18 Billion in Oil Sales Despite Ongoing Conflict with US

Iran's oil ministry reported that it sold $18 billion worth of oil during the war and ceasefire period. The sales broke down into $11.5 billion during the war and $6.5 billion during the subsequent ceasefire, which collapsed earlier this month. According to the statement from Iran's oil ministry, these sales cover over 60 percent of the forecasted oil revenues in the year's budget.

The US blockade on Iranian ports was put in place after a series of US-Israeli strikes against Iran sparked the war on February 28. An April ceasefire largely brought an end to hostilities, but fighting resumed earlier this month as both sides battled for control of the Strait of Hormuz.