1105 GMT October 18, 2019
Central Bank of Iran (CBI) figures showed that Iran's oil revenues stood at above 419 trillion rials ($9.9 billion with each dollar at the official rate of 42,000 rials) — around 60 percent higher year-on-year, Press TV reported.
The revenues pertained to exports of crude oil and oil products, the CBI added in its statement.
Oil sales, the CBI added in a statement, set a record of 348.9 trillion rials ($8.3 billion). The figure was 84.2 percent higher than sales over the same period last year.
IRNA quoted experts as saying that the rise in oil revenues was largely due to higher prices.
The prices over the period of four months starting March 21, 2017 stood at an average of $50 per barrel. However, they rose to as high as $60 per barrel over the same period this year.
Another reason for higher revenues, the news agency said, was the rise in the rate of foreign currencies against the rial.
The announcement comes as the United States is preparing to impose a second wave of sanctions against Iran that primarily target oil exports. The first round that was effective in early August targeted Iran's financial, automotive, aviation and metals sectors.
In May, Iran's Oil Minister Bijan Namdar Zanganeh said the country was in a far better shape than before and could withstand the sanctions that the US plans to impose on it.
Zanganeh said threatening Iran with sanctions against its oil industry was an issue of the past, stressing that the country had already been able to withstand such threats in the past few years.