Iran Earns $7.5 Billion from Oil Sales Despite U.S. Naval Blockade

Iran has earned $7.5 billion from oil sales during the first four months of the current Iranian year despite a U.S. naval blockade. The funds have been transferred to the country’s central bank, according to a report by Anadolu Agency published on Saturday (August 29).

Citing data from Iran’s Oil Ministry, the report said the revenue would be enough to cover the government’s foreign-currency expenditures from July through December.

According to the report, Iran’s oil revenue between March 21 and July 22, 2026, reached 99 percent of the target set in the national budget.

The report also claimed that Iran has sufficient oil available for sale outside the scope of the U.S. naval blockade to generate the oil revenue required under the budget for the current fiscal year, which runs from March 21, 2026, to March 20, 2027.

Meanwhile, the U.S. naval blockade has disrupted Iran’s oil exports and maritime trade. Tensions between Washington and Tehran also remain over the Strait of Hormuz, a major route for global energy shipments.

Iran has closed the strategic waterway, while the United States has continued to demand its reopening to ensure free and uninterrupted maritime traffic.

A memorandum of understanding reached in June as part of efforts to end the war between the United States and Iran included the lifting of the U.S. naval blockade and the reopening of the Strait of Hormuz as key conditions. However, neither measure has been implemented.

Iranian officials have said Tehran will not fully reopen the Strait of Hormuz until Washington fulfills its commitments, including lifting the blockade and sanctions and releasing Iranian assets that have been frozen.

Source: Anadolu Agency