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Oil

Iran’s energy export revenue up 60 pct in March-May vs year ago: Oil ministry media

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Iran’s energy export revenue is 60 percent higher in the first two months of the Iranian year (March 21 to May 21) compared to the same period a year ago, an official from the Iranian oil ministry told the ministry’s SHANA news agency on Sunday.

The official did not give a reason for the jump in revenue which comes as oil prices have nearly doubled from a year ago because of the war in Ukraine and the global post-pandemic economic recovery.

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The Iranian government says it continues to export oil despite US sanctions re-imposed in 2018 after former US President Donald Trump withdrew from an agreement to restrain Iran’s nuclear program.

Talks to revive the 2015 accord, and allow US sanctions to be removed, have been on hold since March, chiefly over Tehran’s insistence that Washington remove the Islamic Revolutionary Guard Corps from the US list of designated terrorist organizations.

Read more: Israeli PM Bennett says Iranian ‘immunity’ is over

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