Iran reports $7.5bn in oil revenues amid US naval blockade

Iran reports $7.5bn in oil revenues amid US naval blockade MEE staff on Sat, 08/29/2026 - 09:50 Fars news says oil revenues nearly met budget projections even as talks with Washington over the blockade remain stalled People shop for produce at the historic Tajrish Bazaar in northern Tehran on 25 August 2026 (AFP) Off Iran transferred $7.5bn in oil revenue from sales during the first four months of the current Iranian year to the central bank, the semi-official Fars News Agency reported on Saturday, as Tehran said it had continued to meet its budget targets despite a US naval blockade. The funds would be sufficient to cover the government's foreign currency expenditures from July through December, Fars reported, quoting data from Iran's oil ministry. Oil revenue between 21 March and 22 July, the first four months of the Iranian year, reached 99 percent of the amount projected in the budget for that period, Fars said. The figures come as the US naval blockade imposed on Iran has disrupted Tehran's oil exports and maritime trade, while the status of the Strait of Hormuz remains at the centre of the continuing dispute between Washington and Tehran. Iran has restricted passage through t