Iran’s Parliament Allocates €4.5 Billion to Defense

Iran’s Parliament Allocates €4.5 Billion to Defense

TEHRAN (Tasnim) – The Iranian lawmakers required the administration to earmark a sum of 4.5 billion euros of income from the National Iranian Oil Company for strategic defense research and expansion of the country’s defense capabilities.

In an open session of the Parliament on Saturday, the lawmakers mapped out plans for the annual income in the next Iranian year’s national budget.

The lawmakers passed a provision according to which the administration will have to spend a total of 4.5 billion euros in income generated by the National Iranian Oil Company on the strategic defense research and plans to strengthen the country’s defense power.

In remarks in August 2021, the Chief of Staff of the Iranian Armed Forces described the constant improvement of defense capabilities as a cardinal strategy of the Islamic Republic, noting that maintaining security in a delicate region would be impossible without self-reliant military power.

According to a report by the Global Fire Power, Iran is ranked 14 among 140 countries considered for 2022 in terms of military power.

Most Visited in Politics
Top Politics stories
Top Stories