Iran received more than US$1 billion in oil revenues over an 11-day period despite increasing US economic sanctions.
ISTANBUL: More than US$1 billion in oil revenues entered Iran during the first 11 days of the period ending Sept 2, Anadolu Ajansi reported, citing the semi-official Fars News Agency on Thursday.
Citing documents reviewed by its reporter, the agency said oil-related foreign currency was added to the country’s foreign exchange reserves during the period.
The report said the additional funds would increase the Central Bank’s ability to meet the country’s foreign currency needs.
It also said Iran’s oil sales during the first five months of the current fiscal year generated revenues equivalent to more than 80 per cent of the oil income projected in Iran’s 2026-27 budget, which runs from March 21, 2026, to March 20, 2027.
The latest figures follow similar data released by Iran’s Oil Ministry in late August, showing that US$7.5 billion in foreign currency generated from oil sales during the first four months of the fiscal year, from March 21 to July 22, had been transferred to the Central Bank.
The figures came as Washington intensified economic pressure on Tehran.
The US recently launched “Operation Economic Outcast”, a campaign aimed at cutting Iran off from global financial channels and restricting its ability to generate and repatriate revenues, including from oil sales.
As part of the campaign, Washington imposed new sanctions targeting dozens of entities, individuals and vessels and broadened secondary sanctions risks for parties continuing to do business with Tehran.
– BERNAMA, ANADOLU
