Iran Defies US Naval Blockade with $7.5 Billion Oil Revenue Transfer

Iran has managed to transfer $7.5 billion in oil revenues to its central bank despite a US naval blockade imposed on the country.

The funds, which were generated from sales during the first four months of the current Iranian year, will cover the government's foreign-currency expenditures from July through December, according to Iran's Oil Ministry.

The amount transferred is sufficient to meet the revenue requirements set under Iran's state budget for March 21, 2026-March 20, 2027. Oil revenues during this period reached 99% of the projected amount in the budget.

The development comes amid a US naval blockade that has disrupted Tehran's oil exports and maritime trade. The Strait of Hormuz remains at the center of the conflict, with Iran closing the strategic waterway in response to the blockade.