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Ulviyya Poladova

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Speaker of the Iranian Parliament Mohammad Bagher Ghalibaf said that Iran has increased its oil export prices by around 20% following the suspension of U.S. sanctions on the sale of Iranian crude and petroleum products, AzerNEWS reports.

Speaking in an interview with Iran’s state broadcaster, Ghalibaf said the easing of sanctions has had a direct impact on the country’s energy trade, enabling Iran to secure higher revenues from its oil exports.

"Sanctions were lifted, and now Iranian oil is being sold at 20% higher prices, and the revenues are being deposited into accounts," he stated.

He did not provide further details on the scope of the sanctions relief or the mechanisms behind the reported price increase.

Iran has long been subject to U.S. sanctions targeting its energy sector, which have restricted its ability to sell crude oil on global markets and limited access to international financial systems. The Iranian government has repeatedly argued that easing or removing sanctions would significantly improve its economic performance.

The U.S. last week removed sanctions on Iranian oil even as peace talks between Washington and Tehran appeared to descend into confusion, with the two sides issuing conflicting accounts of discussions on nuclear inspections and the unfreezing of billions in Iranian funds.