Mohammad Reza Farzin said on Monday that the supply of hard currency to importing countries has not changed in recent weeks as it declined to report that petroleum export revenue claims had affected lenders’ ability to meet demand in Iran’s import markets.
“The currency resources attributable to Iran’s oil exports have not changed compared to the previous month. We expect these resources to not decline (in the coming months),” Farzin said he was speaking at a meeting in Tablis, Northwestern city.
He also said the government will continue to allocate large subsidies to import basic goods and animal feed.
CBI spends over $1 billion a month on subsidizing basic goods, medicines and animal feed imports at a price of 285,000 RI per US dollar.
That’s because the free market price of Iranian US dollars is almost four times the rate in the rial of 1,050,000.
Speculation about a decline in Iran’s oil revenues came last month after it was suggested that the country’s oil exports had declined after a 12-day war with the Israeli regime, which ended in late June.
Oil Ministry officials rejected the report, saying Iran’s oil exports have remained largely unchanged, even at the pinnacle of the war with Israel, despite restrictions on shipments in the Persian Gulf caused by the war.
MNA/