WSJ: Iran earns up to $6 billion from oil sales during truce with US

Iran generated an estimated $5–6 billion in oil sales during its truce with the United States, The Wall Street Journal (WSJ) reports, citing oil market analysts and the advocacy group United Against Nuclear Iran.

Following the lifting of restrictions on port operations, approximately 70 million barrels of oil were exported from the country.

Since late June, around 20 Iranian tankers have arrived off the eastern coast of Malaysia. According to the report, Tehran has continued to employ established sanctions-evasion methods by transferring crude oil to other tankers in neutral waters between Iran and China before it is transported onward, often to privately owned refineries in China.

Analysts say the growing presence of Iranian vessels in Asian waters could signal that Tehran is on track to secure billions of dollars in additional revenue from oil exports.

By Jeyhun Aghazada