Iran sold $18 billion in oil during war and ceasefire, ministry claims

Iran's oil ministry announced it successfully sold $18 billion worth of oil during a period encompassing a recent war and a subsequent ceasefire. The ministry stated that $11.5 billion was generated during the war, with an additional $6.5 billion sold during the ceasefire, which collapsed earlier this month. According to the ministry's official website, this revenue stream met more than 60 percent of the oil revenues projected in the year's budget, even amidst the ongoing crisis. This assertion stands in contrast to earlier statements made in late June by Iran's parliament speaker and chief negotiator, Mohammad Bagher Ghalibaf. At that time, Ghalibaf had indicated that Iran was unable to export any oil due to a U.S. blockade on its ports. The conflict, reportedly sparked by U.S.-Israeli strikes on Iran on February 28, led to Iranian retaliation against U.S. allies in the region. An April ceasefire had largely halted fighting, but hostilities reportedly resumed in early July as both nations vied for control of the crucial Strait of Hormuz.

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The ministry sold $11.5 billion of oil during the war and $6.5 billion during the ceasefire