Publish Date: 13 October 2022 - 17:58

Iran’s oil revenues grow eight-fold YOY despite sanctions

Tehran, IRNA – An official report released by the Iranian government on Thursday suggests that Iran’s oil revenues in the five months to August 22 have grown eight-fold compared to figures from last year’s corresponding period.

The major increase in oil revenues takes place in spite of tough economic sanctions on the country which have targeted Iran’s oil sector among other parts of the economy to deal a blow to one of the main sources of Iran’s revenues.

The report shows that the Iranian government under President Ebrahim Raisi has been successful in neutralizing the sanctions.

Statistics also show that Iran’s non-oil economic growth reached 4.3 percent in spring from 3.1 a year earlier.

9341**9417