Iranian Central Bank Governor Announces Halt in Oil Exports, Cites Unpaid Dues from Iraq

rafidainscope - Central Bank of Iran Governor Abdolnaser Hemmati announced on Thursday a complete halt to the country's oil exports, stating that oil revenues have dropped to zero. Hemmati explained that Tehran is now shifting focus toward collecting financial dues from trade partners to manage current economic challenges. He noted that prior to the crisis, Iran exported $12 billion worth of goods and services to Iraq annually, confirming the existence of outstanding funds at the Central Bank of Iraq. He added that the Iraqi government has promised to settle these dues but faces its own economic difficulties due to the closure of the Strait of Hormuz and the disruption of its oil exports. Hemmati pointed out that while other nations can utilize their foreign financial reserves to offset export deficits, Tehran cannot due to the freezing of its assets under US economic sanctions.