Iran transfers $7.5B in oil revenues to central bank despite US naval blockade: Report
Oil revenues during the first four months of Iran’s new fiscal year reached 99% of the amount projected in the state budget
TEHRAN (AA) – Iran has transferred $7.5 billion in revenue from oil sales to its central bank during the first four months of the current Iranian year, semi-official Fars News Agency reported Saturday.
The amount is enough to cover the government’s foreign-currency spending between July and December, the report said, citing data from Iran’s Oil Ministry.
According to the report, Iran has sufficient oil available for export outside the US naval blockade to generate the revenues anticipated under its state budget for the fiscal year running from March 21, 2026, to March 20, 2027.
Oil revenues recorded between March 21 and July 22 — the first four months of the Iranian fiscal year — amounted to 99% of the figure projected in the budget for the same period, Fars reported.
The figures come as a US naval blockade has disrupted Iran’s oil exports and maritime trade, putting pressure on Tehran’s ability to access international markets.
The Strait of Hormuz, one of the world’s most important routes for energy shipments, has remained a major point of contention in the US-Iran conflict. Iran has closed the strategic waterway, while Washington has called for its reopening to unrestricted navigation.
A memorandum of understanding reached in June to end the US-Iran war includes provisions for lifting the naval blockade and reopening the Strait of Hormuz.
Iranian officials have said Tehran will not fully reopen the waterway until the US meets its commitments under the agreement, including lifting the blockade and sanctions and unfreezing Iranian assets.
We must take charge of our narrative. Research indicates that 92% of their Muslim coverage is negative. Help us change that.
Have Your Say!
Have you been affected by the issues raised in this story? Please share your experiences by emailing haveyoursay@soundvision.com.
Please include a contact number if you are willing to speak to a Muslim Network TV’s representative. You can also get in touch in the following ways:
Tweet: @MuslimNetworkTV
