TEHRAN (FNA)- Revenues from Irans crude oil sales are spent on medication and basic commodities, an Iranian deputy oil minister said.Ali Majedi, who is deputy minister for international affairs and trading, the Central Bank of Iran is facilitating transactions and money transfer to that effect.
He told Shana that the development is due to the implementation of Irans historic nuclear deal with world powers.
Due to sanctions imposed by the European Union and the United States, buyers of Irans crude oil could not pay Iran in cash.
Based on the Geneva deal, 4.2 billion dollars in oil revenues owned by Iran will be unfrozen.
By Fars News Agency
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