$7.5B in Oil Revenues Transferred to Central Bank Amid US Naval Blockade

Iran has successfully transferred $7.5 billion in oil revenues to its central bank despite a US naval blockade imposed on the country. According to Fars News Agency, this amount would be sufficient to cover Iran's foreign-currency expenditures from July through December of this year.

The funds were transferred from sales during the first four months of the current Iranian year, which is equivalent to March 21 to July 22. Oil revenues for this period reached 99% of the projected amount in the state budget for the same period.

This development comes amid a prolonged US-Iran conflict over maritime trade and energy shipments through the Strait of Hormuz. Iran has closed the strategic waterway, while the US has demanded its reopening to free and unrestricted navigation.