Iran's oil exports hit five-year high

Recently, Iranian Oil Minister Javad Oji said that Iran's oil exports in the last fiscal year reached the highest level since the reimposition of sanctions by the United States in 2018. Jawad Oji pointed out that compared with the fiscal year 2021-2022, oil exports in the fiscal year 2022-2023 have increased by 83 million barrels compared with the fiscal year 2021-2022, and by 190 million barrels compared with two years ago. In addition, natural gas exports in this fiscal year have increased by 15% compared to the previous fiscal year.

Since the United States announced its withdrawal from the Iran nuclear agreement and imposed sanctions on Iran, Iran's oil exports and income have been hit hard. On March 9, the United States imposed new sanctions on 39 companies around the world on the grounds of supporting Iran's access to the international financial system. Brian O'Toole, a former U.S. Treasury Department official in charge of sanctions, said the measures taken by the U.S. government in recent days will have a negative impact on Iran's oil exports and revenue.