Iran achieves high oil and gas exports despite sanctions

Iran's Oil Minister announced on February 9 that the country had achieved $30 billion in revenue through oil and gas exports in the first 10 months of the Iranian calendar year.

According to the semi-official Tasnim news agency, at a meeting in Mashhad, Minister Javad Qwji said that despite sanctions against Iran, the Middle Eastern country still achieved oil production at 3.45 million barrels/day, and said that many of the country's industries had turned to "self-sufficiency" to cope with the sanctions.

Since 2018, after unilaterally withdrawing from the 2015 nuclear deal between Iran and the Quartet, the US has increased sanctions on the Islamic nation, especially on oil exports and banking.

Meanwhile, negotiations to revive the nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), began in Vienna, Austria, in April 2021. Despite several rounds, the negotiations have not made any significant breakthroughs since the last round ended in August 2022.