Iran’s Oil Sales to Reach $5 Bn in 2020

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, (File Photo: Reuters)
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, (File Photo: Reuters)
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Iran’s Oil Sales to Reach $5 Bn in 2020

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, (File Photo: Reuters)
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, (File Photo: Reuters)

Iran lost $115 billion in oil exports and non-oil revenues, and the country’s crude oil sales this year will reach five billion dollars at best, according to an Iranian economic official.

Iran’s total oil and non-oil exports will reach $35 billion this year, whereas its foreign currency expenditures amount to $50 billion annually, the chairman of Iran-China Chamber of Commerce, Majidreza Hariri, was quoted by ILNA news agency.

The official warned that his country will face a currency crisis for years if exports are not doubled, expressing concern that the income does not commensurate with spending.

Hariri indicated that statistics of the past six months show that export revenues will be $30 billion until the end of the year, noting that Iranian revenues had dropped to $10 billion, compared to $40 billion in the last year.

The Iranian official did not reveal the details of Iranian oil sales in light of the US sanctions that prevent Tehran from exporting oil.

Iranian Oil Minister Bijan Zangeneh had earlier refused to disclose details of oil exports as well.

Last June, Iran VP Eshaq Jahangiri said that his country's oil revenues fell from $100 billion to $8 billion last year.

Hariri believes that Iran will get between $35 and $40 billion at best, while foreign currency expenditures are $50 billion in the event of austerity.

He recommended reducing the government’s spending policy to be able to manage matters “in any way possible” until the end of the year.

The expert believes the government will not be able to do something under the sanctions, noting that political decisions in the country are taken by the regime. He warned that if the current situation persists, things will be more difficult in the coming year.

Last Saturday, Iranian President Hassan Rouhani said that Iran’s economy is in a better state than Germany’s, which was highly ridiculed on social media.

US President Donald Trump said last month he aims to bring Iranians back to the negotiating table due to the economic sanctions that brought Tehran on the brink of bankruptcy, indicating that the country’s GDP recorded negative growth of 24 percent.

Rouhani responded by saying the negative rate did not exceed 0.06 percent.



Iran Says Seeks ‘Real and Fair’ Deal in Nuclear Talks with US

A man holds an anti-US banner during a rally in support of Gaza, in Tehran, Iran April 11, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
A man holds an anti-US banner during a rally in support of Gaza, in Tehran, Iran April 11, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
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Iran Says Seeks ‘Real and Fair’ Deal in Nuclear Talks with US

A man holds an anti-US banner during a rally in support of Gaza, in Tehran, Iran April 11, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
A man holds an anti-US banner during a rally in support of Gaza, in Tehran, Iran April 11, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters

Iran seeks a "real and fair" agreement with Washington on its nuclear program, a senior aide to supreme leader Ali Khamenei said Friday, setting the stage for a diplomatic showdown this weekend in Oman.

Longtime adversaries Iran and the United States are set to hold talks on Saturday aimed at reaching a deal on Tehran's nuclear program.

US President Donald Trump last month wrote to Khamenei urging negotiations, but warning of possible military action if Iran refuses.

"Far from putting up a show and merely talking in front of the cameras, Tehran is seeking a real and fair agreement, important and implementable proposals are ready," Khamenei adviser Ali Shamkhani posted on X.

He confirmed that Foreign Minister Abbas Araghchi was heading to Oman "with full authority for indirect negotiations with America", adding that if Washington showed goodwill, the path forward would be "smooth".

Ahead of the talks, Trump reiterated that military action was "absolutely" possible if they failed.

Iran responded by saying Tehran could expel UN nuclear inspectors, prompting another US warning that this would be an "escalation".

Iran has consistently denied seeking to acquire nuclear weapons.

On Friday, foreign ministry spokesman Esmaeil Baqaei said Iran was "giving diplomacy a genuine chance in good faith and full vigilance".

"America should appreciate this decision, which was made despite their hostile rhetoric," he said.

- 'Stupid actions' -

The talks were first announced by Trump during Israeli Prime Minister Benjamin Netanyahu's visit to Washington.

He said they would be high-level and "direct", but Iran insisted they would be "indirect".

"The talks will be conducted indirectly through the exchange of texts," claimed Iran's Fars news agency, without naming a source.

Araghchi and US special envoy Steve Witkoff are due to lead the talks in Oman, which has played a mediating role on the Iran nuclear issue.

Witkoff visited Iran's ally Russia on Friday for talks on Ukraine with President Vladimir Putin.

Expert-level consultations between Russia, China and Iran on nuclear issues were held in Moscow on Tuesday, Russia's foreign ministry said.

Iran has in recent months also been talking with the three European parties to the 2015 nuclear deal, Britain, France and Germany.

The 2015 accord saw sanctions relief for Iran in exchange for limits on its nuclear program.

On Friday, the European Union cautioned that there was "no alternative to diplomacy" on the Iranian nuclear issue.

Germany urged both sides to reach a "diplomatic solution", calling it a "positive development that there is a channel for dialogue between Iran and the United States".

On Thursday, Washington imposed additional sanctions on Iran, targeting its oil network and nuclear program.

Iran's nuclear agency chief Mohammad Eslami downplayed their impact.

"They applied maximum pressure with various sanctions, but they were unable to prevent the country from progressing," he said.

"They still think that they can stop this nation and country with threats and intimidation, psychological operations, or stupid actions."

- 'Threats and intimidation' -

Iran has been in the spotlight since Trump returned to office, and its regional allies have suffered major setbacks.

Hamas in Gaza and Hezbollah in Lebanon have suffered heavy losses in conflicts with Israel sparked by the Palestinian group's October 2023 attack.

Since the Gaza war began, Iran and Israel have attacked each other directly for the first time.

Warning of military action against Iran should the talks fail, Trump said US ally Israel would "obviously be very much involved in that, be the leader of that".

Khamenei's adviser Shamkhani said such threats could prompt the expulsion of UN nuclear watchdog inspectors.

"Transfer of enriched materials to secure locations may also be considered," he added of Iran's uranium enrichment activities.

While the West wants to include Iran's ballistic missile program and regional influence in negotiations, Tehran maintains it will talk only about its nuclear program.

"If the American side does not raise irrelevant issues and demands and puts aside threats and intimidation, there is a good possibility of reaching an agreement," deputy foreign minister Majid Takht-Ravanchi said.

Hardline Iranian media are skeptical about the talks.

The Kayhan newspaper warned that entering negotiations with the United States in a bid to lift sanctions was a "failed strategy".

During his first term, Trump withdrew from the 2015 nuclear deal and reimposed sweeping economic sanctions.

Tehran adhered to the deal for a year before rolling back its own commitments.