Iran reports $18 billion in oil exports amid conflict and subsequent truce

Iran's oil ministry disclosed on Saturday that it successfully sold oil valued at $18 billion during the conflict and subsequent ceasefire with the United States.

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The ministry's sales totaled $11.5 billion during the war and $6.5 billion during the ceasefire, which collapsed earlier this month, according to a statement on its official website.

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This significant oil sale has covered over 60 percent of the forecasted oil revenues in the annual budget, despite the ongoing crisis, the ministry noted.

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In a statement made in late June, Mohammad Bagher Ghalibaf, Iran's parliament speaker and chief negotiator, claimed that Iran was unable to export oil due to the US blockade on its ports.

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The war between Iran and the US began on February 28, sparked by US-Israeli strikes, prompting Iran to launch retaliatory attacks against US allies in the region.

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A ceasefire in April largely brought an end to the fighting, but hostilities resumed in early July as the two nations continued to clash over control of the strategic Strait of Hormuz.