The funds would be enough to cover the government’s foreign-currency expenditures from July through December, according to Iran’s Oil Ministry, Anadolu Agency reported.
Iran has sufficient oil available for sale outside the US naval blockade to meet the revenue targets established in its state budget for the period from March 21, 2026, to March 20, 2027, the report said.
Oil revenues generated between March 21 and July 22, covering the first four months of the Iranian year, reached 99% of the amount projected in the budget for that period, according to the report.
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The development comes as Iran remains under a US naval blockade that has disrupted Tehran’s oil exports and maritime trade.
The Strait of Hormuz, a crucial route for global energy shipments, has remained at the center of the US-Iran conflict. Iran has closed the strategic waterway, while the US has demanded that it be reopened to ensure free and unrestricted navigation.
Under a memorandum of understanding reached in June to end the US-Iran war, lifting the US naval blockade and reopening the Strait of Hormuz are among the key provisions. Iranian officials have said Tehran will not fully reopen the waterway until Washington fulfills its commitments, including lifting the blockade and sanctions and releasing frozen Iranian assets.
