Iran moves $7.5B oil revenue to central bank despite US blockade

Iran's central bank has received $7.5 billion in oil revenues accumulated during the first four months of the current fiscal year, a transfer that comes as Tehran works to maintain fiscal stability despite the ongoing US naval blockade disrupting its maritime trade, according to a report published Saturday.

The semi-official Fars News Agency reported that the funds would cover the government's foreign-currency expenditures from July through December, citing information obtained from Iran's Oil Ministry. Revenues collected between March 21 and July 22 reached 99 percent of the budgeted amount for the period, and Tehran holds sufficient oil available for sale outside the blockade to meet full-year revenue targets through March 2027.

US naval blockade disrupts exports

Washington's naval blockade has severely disrupted Iranian oil exports and broader maritime commerce, with the Strait of Hormuz remaining at the center of the bilateral conflict. Tehran closed the strategic waterway — a vital chokepoint for global energy shipments — while the United States has demanded its immediate reopening to ensure free navigation for international tankers.

June agreement links Hormuz reopening to sanctions relief

The revenue transfer comes amid efforts to implement a memorandum of understanding reached in June to end the US-Iran war, which stipulates that lifting the American naval blockade and reopening the Strait of Hormuz are key provisions. Iranian officials have stated that Tehran will not fully reopen the waterway until Washington fulfills commitments including lifting the blockade and sanctions alongside releasing frozen Iranian assets.