Iran: oil revenues up 580% in 4 months

The Iranian Ministry of Economy reported that the country’s revenues from the sale of oil and gas condensate for the first four months of the current Iranian year (which began on March 21, 2022) increased by 580%.

At a press conference, Iranian Economy and Finance Minister Ehsan Khandozi explained, “Due to the increase in oil exports and the exchange rate, we are seeing a 580% increase in the country’s oil export revenues. and gas condensate for the first four months of the current Iranian year (starting March 21, 2022) compared to the same period last year.

Referring to the economic aspects of Iranian President Ebrahim Raisi’s visit to Russia and Turkey, Khandozi said, “The holding of these two visits was in line with the Government’s Good Neighbor Policy, which is the top priority of our foreign policy.” and Iranian President Ebrahim Raisi stressed the acceleration of the implementation of economic aspects discussed during Raisi’s visit to Moscow, including the use of the Russian ruble against the Iranian rial in bilateral trade.

The Minister of Economy added: “During the visit of the President of the Republic of Turkey to Iran, Tehran and Ankara also signed 8 documents and agreements, the most important of which is an agreement on the supply of Iranian gas to Turkey for a period of 25 years, until 2025.”

Source: “ERNA”