Iran Generates $18 Billion in Oil Sales During War and Ceasefire

Iran's Oil Minister Mohsen Paknejad has revealed that his country sold $18 billion worth of oil during the war and ceasefire. The sales generated more than 60% of the oil revenue forecast in Iran's annual budget, Paknejad said.

The minister stated that during the conflict, Iran sold $11.5 billion worth of oil, while a further $6.5 billion was sold during the ceasefire period. This increase in exports was made possible by lower risks to tanker traffic and the ability to sell part of around 100 million barrels of stored crude oil and gas condensate.