Iran’s oil minister says the country sold $18 billion worth of oil during the war and “ceasefire” with the United States, Al Jazeera reports.

Mohsen Paknejad says sales generated more than 60 per cent of the oil revenue forecast in Iran’s annual budget.

Lower risks to tanker traffic have helped increase exports and enabled the sale of some of the 100 million barrels of Iran’s stored crude oil and gas condensate.