“This year is the first year that 40 percent of the oil revenue will go to the National Development Fund, while in previous years only 20 percent [of the revenues] were deposited into the development fund,” Masoud Mirkazemi said.

In late October, Tasnim news agency reported that Iran’s oil revenues increased by eight times in the first five months of the current Iranian calendar year (March 21-August 22) with respect to the same period of the previous year.

Citing official data, the agency reported that the Islamic Republic’s oil revenues also increased by 11 times in the previous year.

The mentioned data showed that the Gini coefficient, as a measure of income distribution and equality, reached 0.39 percent in the previous year with a slight improvement, and it is expected to improve further this year.

Also, general government revenues have grown by 66.5 percent in the first five months of the current year compared to the same period of the previous year.

Iran has been ramping up its oil production and exports over the past year as the country has been implementing new strategies to overcome U.S. sanctions.

The Islamic Republic’s oil export in Q1 2022 increased significantly so that it registered the fastest growth rate among all producers in West Asia. This year, the volume of Iranian crude export reached its highest since former U.S. President Donald Trump withdrew from the so-called Iranian nuclear deal in 2018.

Back in September, Iran’s First Vice President Mohammad Mokhber said that the country is currently selling its oil in global markets and getting paid for it without any problems.

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“The government did not have a budget deficit in terms of oil revenues in [the Iranian calendar year] 1400,” Oji said.

The official stressed that Iran is not going to reveal the ways through which the country handles its oil exports.

According to Oji, based on the previous year’s national budget bill the government was supposed to realize 1.99 quadrillion rials (over $7.9 billion) of oil revenues by the yearend while the oil ministry managed to realize 10 percent more than the mentioned figure.

Back in March, Oji had said Iran’s oil exports were on the rise despite the U.S. sabotaging the country’s shipments.

“Iran’s oil exports have risen under the toughest sanctions and without waiting for the outcome of the Vienna talks,” said Oji on March 12.

The increase was thanks to “different methods used to win contracts and finding different buyers,” the official added.

Tehran’s oil exports have been limited since former U.S. President Donald Trump in 2018 exited the 2015 nuclear accord and reimposed sanctions. Iran views U.S. sanctions as illegal and has said it will make every effort to sidestep them.

The Islamic Republic’s oil exports rose to more than one million barrels per day (bpd) in February for the first time in almost three years, reflecting increased shipments to China.

Iran increased exports in 2021 despite the sanctions, according to estimates from oil industry consultants and analysts, but the shipments remained well below the 2.5 million bpd before sanctions were reintroduced.

Back in January, Head of National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr said the country’s oil revenues have increased significantly over the past few months and the country has received the payment for all its crude oil sales since the new government administration.

“In the thirteenth government, part of the country’s lost oil markets has been revived and we have received the payment for all the oil we have sold so far,” Khojasteh-Mehr said.

According to the official, the private sector is also contributing greatly to the country’s current oil sales.

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