Iran says it sold $18 bln of oil during war, ceasefire

TEHRAN

People walk past a mural depicting a US aircraft carrier under missile attack in Tehran. (AP photo)

Iran’s oil ministry on July 25 said it was able to sell a total of $18 billion worth of oil during the war and the ensuing ceasefire with the United States.

“The ministry sold $11.5 billion of oil during the war and $6.5 billion during the ceasefire” that collapsed earlier this month, the ministry said in a statement carried by its official website.

“This covers more than 60 percent of the oil revenues forecast in the year’s budget in the midst of the crisis,” it added.

In late June, however, Iran’s parliament speaker and chief negotiator Mohammad Bagher Ghalibaf had said that Iran was unable to export any oil during the U.S. blockade on its ports.

U.S.-Israeli strikes on Iran sparked the war on February 28, prompting Iran to retaliate against U.S. allies in the region.

An April ceasefire largely put an end to fighting, but hostilities resumed earlier in July as the two foes battle over control of the vital Strait of Hormuz.