Iran’s central bank says oil exports have fallen to zero amid war and sanctions

Iran's Central Bank has reported that the nation's oil exports have reached zero due to the ongoing war and sanctions, reported Anadolu Ajansi. Governor Abdolnaser Hemmati confirmed this in a televised interview, stating that Iran is no longer exporting oil. He also mentioned that Iraq and Qatar are facing the same situation, as their oil revenues have also fallen to zero.

Hemmati explained that the main issue is that the US has frozen Iran's foreign currency reserves, preventing the country from accessing its funds. Despite this, Hemmati stated that Iran has taken necessary measures to manage the financial impact. He mentioned that Iran's funds under the Islamabad Memorandum, which were expected to be released, have not been freed yet.

Hemmati highlighted the strong political and economic ties between Iran and Iraq before the war, with Iran previously exporting $12 billion worth of goods and services to Iraq annually. He also noted that Iraq has pledged to address outstanding payments to Iran and that discussions are underway to facilitate the transfer and use of Iranian funds held in an Iraqi bank.