TEHRAN/ISLAMABAD (MNN); Iran says it transferred around $7.5 billion in oil revenues to its central bank during the first four months of the Iranian year, despite a US naval blockade, according to Iranian media reports cited by Anadolu.
Iran reportedly generated the amount between March 21 and July 22, representing about 99 per cent of the oil-revenue target set in the country’s state budget for the period.
The development comes amid escalating tensions between Tehran and Washington and renewed disputes over oil shipments through the strategically important Strait of Hormuz.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf strongly criticised US Treasury Secretary Scott Bessent over claims regarding the volume of oil transported through the waterway and the financial cost of the US military campaign.
Responding to Bessent on X, Ghalibaf accused the US official of misrepresenting the figures and questioned Washington’s reported war-related expenditure. He also alleged that financial interests were benefiting from movements in oil prices.
Iran Calls for Regional Cooperation
Ghalibaf separately said emerging regional agreements could mark a new phase in which Muslim countries rely more on their own capabilities rather than foreign powers.
He argued that lasting regional security should be based on cooperation among neighbouring states rather than the intervention of outside powers, which he described as fragile and dependent.
UAE Reviews Banque Misr Branches
Meanwhile, the UAE Central Bank has ordered an urgent review of the local branches of Egypt’s Banque Misr following US sanctions targeting the bank’s Emirati operations over alleged Iran-related financial activities.
The UAE regulator said licensed banks must avoid exposing the country’s financial system to reputational risks or allowing its advanced financial infrastructure to be misused.
The US Treasury said the sanctions were aimed at restricting the bank’s access to dollar transactions as part of Washington’s intensified economic pressure on Iran and its international financial network.
Iran Vows to Strengthen Defence Capabilities
Iran’s acting Defence Minister Majid Ibn Reza said Tehran would continue strengthening the country’s defensive capabilities.
He described national unity as a key component of Iran’s defence strength and said the country would continue working to deter any potential attack or threat.
Araghchi Accuses US of Manipulating Energy Markets
Iranian Foreign Minister Abbas Araghchi accused the United States of attempting to influence global energy markets for political and financial advantage.
Araghchi claimed that elements within the US government were using media reports to influence oil prices and prolong what he described as a losing war.
He also alleged that pro-Israel actors were promoting the conflict through overly optimistic assessments, while warning that the consequences of higher energy prices were ultimately being felt by US consumers.
