Iran’s revenues from exports of oil and condensate surged by 580% during the first four months of the current Iranian year that begins on March 21, Iranian Minister of Economic Affairs and Finance, Seyyed Ehsan Khandouzi, said on Tuesday.
Between March 21 and July 21, international crude oil prices have largely held above $100 per barrel after the Russian invasion of Ukraine and the sanctions on Russian oil exports upended global trade flows.
“Due to the increase in oil exports and our new budget’s currency conversion rate, we saw a 580% increase in the treasury’s income from the export of oil and condensate in the first four months of this year,” the Iranian finance minister was quoted as saying by local news agency IRNA.
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