Iran sharply decreases oil and gas revenues

"During the past nine years, Iran's annual revenues from oil and gas dropped 92.5% from $119 billion to $8.9 billion," said the head of Plan and Budget Organization of Iran Mohammad Baqir Nobakht, Report informs, citing foreign media.

"Oil and gas export fluctuated in the past nine years. Last year, the export fell to $8.9 billion. Currently, we try to reduce and manage the dependence of the economy on oil," he said.

According to him, the US sanctions reduced the share of oil revenues in 2020's state budget to 10%.

According to international media, the oil export from Iran was below 250,000 barrels a day in the recent year.