Iran oil revenues dropped 50% in H1 2012
- Iran: Monday, December 17 - 2012 at 00:37
Iranian economic minister Shamseddin Hosseini has said the country's oil revenues have been cut in half in 2012 compared with last year, an admission of how deeply Western sanctions are cutting Tehran's chief source of funds, Reuters has reported. "Because of the sanctions, revenues collected from the country's oil have dropped by 50%," said Hosseini. "By managing our resources and revenues, there will be no problem in paying salaries until the end of this year," he added, referring to Iran's calendar year which ends on March 20, 2013.
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