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World News

Iran lost around $2 billion in oil revenues since May, U.S. official says

FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005. REUTERS/Raheb Homavandi

DUBAI (Reuters) - Iran has lost around $2 billion (£1.5 billion) in oil revenue since May, when U.S. President Donald Trump pulled out of the nuclear deal, U.S. Special Representative for Iran, Brian Hook, told reporters on a call on Monday.

“We have taken 1 million barrels (of oil) off the market and that alone will reduce the Iranian regime’s oil revenues by $2 billion,” he said.

Reporting by Parisa Hafezi and Tuqa Khalid; writing by Maher Chmaytelli; Editing by Alison Williams

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