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Iran’s Energy Export Revenue Up By 60 Percent

Iran’s energy export revenue improved by 60% during the first two months of the Iranian year as compared to the same period last year. The rise in revenue was reported by the Iranian oil ministry to a news agency on Sunday.

The ministry did not provide a reason for the jump in revenue. The growth comes as oil prices have gone up worldwide due to the war in Ukraine and the global post-pandemic economic recovery. The Iranian government said that it continues to export oil despite the sanctions re-imposed by the US government in 2018.

The sanctions were re-imposed after former US President Donald Trump withdrew from an agreement to restrain Iran’s nuclear program. Talks of reviving the 2015 accord and allowing the removal of sanctions have been on hold since March this year.