U.S. Sanctions Halve Iran’s Oil Revenues

Iran’s oil revenues have halved since the U.S. imposed sanctions on the Islamic Republic in 2018, Turkish news agency Anadolu reported, citing an Instagram post of the governor of the Iranian Central Bank, Abdolnaser Hemmati. According to the head of the central bank of Iran, the country’s revenues from oil sales have dropped from more than US$40 billion in 2018 to less than US$20 billion in 2019 and 2020. The central bank also had very limited access to those revenues, Hemmati said. The U.S. sanctions on Iran’s oil exports have…