$18 Billion Oil Sales: Iran Defies US Blockade Amid War and Ceasefire

Iran's oil ministry has announced that it sold $18 billion worth of oil during the war and subsequent ceasefire with the United States. The sales figures, released on Saturday, show that Iran was able to sell $11.5 billion of oil during the conflict and an additional $6.5 billion during the ceasefire.

The ministry stated that these sales cover more than 60 percent of the oil revenues forecast in the year's budget despite the crisis. The announcement comes after Iran's parliament speaker, Mohammad Bagher Ghalibaf, had previously said that Iran was unable to export any oil during the US blockade on its ports.

The conflict between Iran and the US began on February 28 when US-Israeli strikes sparked a war that prompted Iran to retaliate against US allies in the region. The April ceasefire largely put an end to fighting, but hostilities resumed earlier in July as the two foes battled over control of the vital Strait of Hormuz.