$7.5 Billion in Oil Revenue Transferred Despite US Naval Blockade

Tehran has reported that it transferred $7.5 billion in oil revenue from sales during the first four months of the current Iranian year to the central bank, despite a US naval blockade.

The funds would be sufficient to cover the government's foreign currency expenditures from July through December, according to data from Iran's oil ministry.

The US naval blockade has disrupted Tehran's oil exports and maritime trade, while the status of the Strait of Hormuz remains at the centre of the continuing dispute between Washington and Tehran.