BAKU, Azerbaijan, November 21. Iranian government has proposed to export 1.35 million barrels of crude oil per day according the draft of the state budget in the next Iranian year (March 20, 2024 through March 20, 2025 Iranian Minister of Economic Affairs and Finance Ehsan Khandouzi said at a press conference in Tehran on November 21, Trend reports.
In Iran, the government sends the proposed draft budget to the parliament, which has to accept it. If it doesn't, the draft budget bill is returned to the government for further adjustments.
Iranian President Ebrahim Raisi will submit the draft of the state budget for the next year to the parliament today for review and approval, according to the minister.
Khandouzi added that in the draft budget, the price of each barrel of crude oil planned to be exported next year is 65 euros.
Iran had planned to export 1.4 million barrels of crude oil per day at $80 per barrel in this year’s state budget. However, Iran faced many challenges in exporting crude oil, such Western sanctions, selling Iranian crude oil at a low price on the “gray market”, and being excluded from SWIFT, the global banking system. These factors reduced the country’s income from crude oil exports.
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