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Iran transfers $7.5B in oil revenue despite US naval blockade
Despite a US naval blockade and intensified economic pressure, Iran reports that its oil exports continue through secretive shipments in distant waters. The Iranian Oil Ministry stated that $7.5 billion in oil revenues from the first four months of the current Iranian year has been transferred to the central bank. This amount is reportedly sufficient to cover the government's foreign-currency expenditures from July through December.
According to ministry data, oil revenues for the period between March 21 and July 22 reached 99% of the projected budget targets. However, Iranian President Masoud Pezeshkian noted that US sanctions and the maritime blockade have caused a 35% decline in the country's overall foreign trade.
Tensions remain high regarding the Strait of Hormuz. While the US demands the reopening of the waterway for free navigation, Iranian officials maintain that the strait will not be fully reopened until the US lifts its blockade, removes sanctions, and releases frozen Iranian assets.
Entities
Banque Misr · Iran · Masoud Pezeshkian · Mohsen Paknejad · Mohsin Paknejad · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Oil revenues reached 99% of the projected budget amount for the period between March 21 and July 22. www.aydinlik.com.tr · news.az
- [○ 1 SOURCE] Iran's foreign trade has declined by approximately 35 percent due to US sanctions and the naval blockade. www.dunya.com
- [● 2 SOURCES] Iran transferred $7.5 billion in oil revenues to its central bank during the first four months of the current Iranian year. www.aydinlik.com.tr · news.az
- [○ 1 SOURCE] Oil deliveries to customers in distant waters beyond territorial waters are continuing uninterrupted. www.gazetebirlik.com
- [○ 1 SOURCE] The US Treasury Department applied sanctions to Egypt's Banque Misr for its commercial activities with Iran. www.dunya.com