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Iran Banks USD7.5B in Oil Revenue Despite US Naval Blockade
(MENAFN) Iran transferred $7.5 billion in oil-sale proceeds to its central bank over the first four months of the current Iranian year, a semi-official news agency reported Saturday.
Citing figures from Iran's Oil Ministry, the report said the sum would be enough to cover the government's foreign-currency spending needs from July through December.
Despite the US naval blockade, Tehran reportedly has sufficient oil supplies available for sale to meet the revenue targets laid out in its state budget for the period spanning March 21, 2026 to March 20, 2027. Oil revenue collected between March 21 and July 22 — the year's first four months — hit 99% of the budget's projected figure for that stretch, according to the report.
The disclosure comes as the US blockade continues to choke off Iran's oil exports and broader maritime trade. At the heart of the standoff sits the Strait of Hormuz, a critical corridor for global energy shipments that Iran has kept closed while Washington presses for its reopening to unrestricted navigation.
A memorandum of understanding reached in June to bring the US-Iran war to a close calls for lifting the naval blockade and reopening the strait as key conditions. Iranian officials, however, have signaled that Tehran will not fully reopen the waterway until the US delivers on its own commitments — including ending the blockade and sanctions and unfreezing Iranian assets held abroad.
Citing figures from Iran's Oil Ministry, the report said the sum would be enough to cover the government's foreign-currency spending needs from July through December.
Despite the US naval blockade, Tehran reportedly has sufficient oil supplies available for sale to meet the revenue targets laid out in its state budget for the period spanning March 21, 2026 to March 20, 2027. Oil revenue collected between March 21 and July 22 — the year's first four months — hit 99% of the budget's projected figure for that stretch, according to the report.
The disclosure comes as the US blockade continues to choke off Iran's oil exports and broader maritime trade. At the heart of the standoff sits the Strait of Hormuz, a critical corridor for global energy shipments that Iran has kept closed while Washington presses for its reopening to unrestricted navigation.
A memorandum of understanding reached in June to bring the US-Iran war to a close calls for lifting the naval blockade and reopening the strait as key conditions. Iranian officials, however, have signaled that Tehran will not fully reopen the waterway until the US delivers on its own commitments — including ending the blockade and sanctions and unfreezing Iranian assets held abroad.
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