In the year which ended in March, Iran increased oil supplies to China and other customers , despite US sanctions Iranian oil exports in monetary terms reached $35.8 billion in the 12 months to the end of March 2024, the country’s customs reported.
Despite US sanctions, China’s purchases of Iranian oil have allowed the country to maintain a positive trade balance, Reuters recalls. The Iranian authorities stressed that without oil exports, Iran would have a trade deficit of $16.8 billion.
At the same time, the total volume of trade increased by 2.6% year-on-year, reaching $153 billion, of which $86.8 billion was Iranian exports.
