Iran oil ministry says it sold $18 billion during war and ceasefire

On 25 July 2026, Iran's oil ministry said it sold a total of $18 billion worth of oil during the war and the ceasefire with the United States.

In a statement carried by its official website, the ministry said it sold $11.5 billion of oil during the war and $6.5 billion during the ceasefire, which the source said collapsed earlier in July. The ministry said the total covered more than 60 percent of the oil revenue forecast in the year's budget during the crisis.

The statement differed from comments made in late June by Iran's parliament speaker and chief negotiator, Mohammad Bagher Ghalibaf, who had said Iran was unable to export any oil during a US blockade on its ports.

The source said US-Israeli strikes on Iran sparked the war on February 28, after which Iran retaliated against US allies in the region. It said an April ceasefire largely ended the fighting, but hostilities resumed earlier in July as the two sides battled over control of the Strait of Hormuz.