According to the IRNA, the main reason for the increase in revenue was the oil price hike in the global markets.
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However, the demand for oil has recently dropped from $80 per barrel to $50 against the background of the trade war between the United States and China as well as oversupply on the oil market.
The reports come after in May 2018 the United States announced its unilateral withdrawal from the Iran nuclear deal and reimposition of sanctions. Later that year, two packages of sanctions came into effect with the aim of forcing Tehran to negotiate a new agreement. Washington's decision was not supported by other signatories to the deal — China, France, Germany, Iran, Russia, the United Kingdom, and the European Union — which insisted on Tehran’s compliance with the deal.
The US restrictions include measures that curb Iran's oil industry. Only eight nations — China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey — received temporary exemptions from the sanctions on importing oil from Iran.
