Iran has effectively ceased the supply of oil to foreign markets, according to recent statements from the country's financial leadership.
As reported by the Operative Information Center-OMM, the Governor of the Central Bank of Iran, Abdolnasser Hemmati, confirmed the development. "Under current conditions, oil exports have been practically halted," he emphasized.
Despite the cessation of oil revenues, the Central Bank governor stated that the institution's prior strategic planning has proven effective, ensuring that Iran maintains sufficient foreign currency reserves. In a letter addressed to Iran's Supreme Leader, Hemmati sought to alleviate concerns regarding the domestic availability of essential goods and pharmaceuticals.
"There is no need for concern regarding the supply of essential food products and medicines. The Central Bank and the government are ensuring their availability," he noted. This development comes amidst ongoing international sanctions and geopolitical tensions that have significantly impacted Iran's energy sector, which historically serves as the primary driver of the nation's economy and foreign exchange earnings.
