Mohsen Paknejad, Iran’s Oil Minister, announced that the country sold $18 billion worth of oil during the period of conflict and ceasefire with the United States. According to him, the revenue generated from these sales covered over 60 percent of Iran's projected oil revenue in its annual budget.
The Iranian Oil Minister stated that the reduction in threats to tanker transit created the conditions to boost oil exports and enabled the sale of a portion of the country's crude oil reserves. He added that Iran has sold a fraction of its total 100 million barrels of crude oil and gas reserves.
These remarks come amid ongoing tensions between Iran and the United States following recent military clashes. At the same time, concerns have heightened regarding the security of maritime routes, particularly tanker navigation through the Strait of Hormuz one of the world's most critical energy transit bottlenecks.
Writer:Salima Aryaei
