Iran’s Oil Ministry says the country sold a total of $18bn worth of oil during its conflict with the United States and the ceasefire period that followed. According to a statement from the ministry, Iran earned $11.5bn from oil sales during the war and a further $6.5bn during the ceasefire. It said the total amount accounted for more than 60% of the oil revenue projected in the country’s current annual budget. The figures were released after Iran’s parliament speaker and chief negotiator, Mohammad Bagher Ghalibaf, said earlier in July that the country had been unable to export even a single barrel of oil during a 50 to 60-day period when its ports were under a US blockade. Ghalibaf said Iran’s oil exports increased again after the blockade was lifted. The conflict between Iran and the United States began following US and Israeli strikes on 28 February. A ceasefire in April halted most of the fighting, but it collapsed in early July amid escalating tensions over control of the Strait of Hormuz.
