Iran says it exported $18B worth of oil during war, ceasefire period

Iranian authorities exported $18 billion worth of oil during the war with the United States and the subsequent ceasefire period, while fully maintaining production levels, Report informs.

Iranian Oil Minister Mohsen Paknejad said this.

"During the war, the ministry sold $11.5 billion worth of oil, and another $6.5 billion during the ceasefire period. Thus, even at the height of the crisis, it was possible to secure more than 60% of the oil revenues planned in the annual budget," he said.

Paknejad noted that even before the conflict began, the country had accumulated about 100 million barrels of crude oil and gas condensate and later sold those reserves.

"The temporary reduction in risks for the movement of oil tankers made it possible to significantly increase Iranian oil exports and bring a substantial part of accumulated reserves to global markets," he said.