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Commodities

Iran Sells $18 Billion Worth of Oil Amidst War and Ceasefire

Guavy AI Editorial Team
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Oil
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Iran's oil ministry announced it sold $18 billion worth of oil during the war and subsequent ceasefire with the US. The ministry revealed that they sold $11.5 billion of oil during the conflict and an additional $6.5 billion during the ceasefire, which collapsed earlier this month.

This amount covers over 60% of the oil revenues forecast in the year's budget amidst the crisis, according to the ministry.

The statement comes after Iran's parliament speaker, Mohammad Bagher Ghalibaf, said in late June that the country was unable to export any oil during the US blockade on its ports.

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