Iran: 60% rise in energy export revenues

An Aerial view of Iran’s Balal offshore oil platform, in the Gulf on the edge of Qatar’s territorial waters, seen on 16 May 2004 [BEHROUZ MEHRI/AFP via Getty Images]

Iran’s energy export revenues increased 60 per cent between 21 March and 21 May compared to the same period last year, an official from the Oil Ministry told the SHANA news agency yesterday.

The official did not give a reason for the rise, which comes at a time when global oil prices have almost doubled due to the war in Ukraine and the global economic recovery after the coronavirus pandemic.

The Iranian government says it continues to export oil despite US sanctions that Washington re-imposed in 2018 after former President Donald Trump unilaterally withdrew from the 2015 nuclear deal.

Talks aimed at reviving the 2015 deal have been stalled since March as Tehran insists on removing the Islamic Revolutionary Guard Corps from the US list of terror.

READ: Saudi Arabia makes $1bn per day from oil exports, amid rising prices

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