Iran Receives $7.5B in Oil Revenues Amid US Naval Blockade
The Iranian central bank has received $7.5 billion in oil revenues from the first four months of the current fiscal year, a transfer aimed at maintaining fiscal stability despite the ongoing US naval blockade disrupting maritime trade.
The revenue, which covers the government's foreign-currency expenditures from July to December, represents 99% of the budgeted amount for this period. According to Iran's Oil Ministry, Tehran has sufficient oil available for sale outside the blockade to meet full-year revenue targets through March 2027.
The transfer comes as part of efforts to implement a June agreement linking the reopening of the Strait of Hormuz to sanctions relief and lifting the US naval blockade. Iranian officials have stated that they will not fully reopen the waterway until Washington fulfills its commitments, including releasing frozen Iranian assets.