Iran’s Petrodollars Fully Recovered, Oil Output Back to Pre-Sanctions Level: CBI Chief

Iran’s Petrodollars Fully Recovered, Oil Output Back to Pre-Sanctions Level: CBI Chief

TEHRAN (Tasnim) – Iran has managed to restore its oil production to the pre-sanction levels and the country is earning all of the money from the crude it is exporting, Governor of the Central Bank of Iran (CBI) Ali Salehabadi said.

Asked about the fate of the Vienna talks on the revival of the JCPOA and the impact of a potential final agreement on the Iranian market and the currency prices, Salehabadi said in an interview on Wednesday that Iran has been able to supply the necessary currency even under the sanctions over the past three years and has already restored the capacity to produce crude and oil products to the pre-sanction levels.

“We have achieved very good records in terms of oil sales. We are recovering the income from the sale of oil in full. So, even without the JCPOA, the supply of currency in the country will be handled appropriately and we won’t have any problem in the currency market,” the top banker noted.

Salehabadi added that Iran has been receiving the export earnings, particularly the petrodollars, as the country’s currency incomes have experienced favorable conditions in the month of Farvardin (March 21 – April 20).

Asked about the Iranian assets frozen in a number of foreign countries, the CBI chief said the UK’s debt to Iran has been cleared and Tehran has even used that money.

In general, the process of unblocking the Iranian financial resources is going on well, he concluded.

Last month, Oil Minister Javad Owji said Iran’s condensate exports had risen nearly four-fold over the past eight months.

The exports of condensate reached nearly 240,000 barrels per day (bpd) at the end of the calendar year to March 20, the minister noted.

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