Iran's revenue from oil and gas exports has jumped 60% as Russia's war sends energy prices soaring

Iran has seen revenue from energy exports increase in the last two months due to a rise in market prices.

Despite the tough sanctions on the country, the Russian oil ministry is seeing an increase in revenues from the sales of oil and related energy products.

The first two months of the calendar year, which began on March 21, had revenues of $2.45 billion, according to Forouzandeh. In the same period a year earlier, it was $1.5 billion.

The invasion of Ukraine by Russia in late February has caused global energy prices to go up. The US and UK have banned oil imports from Russia. Many Western companies are self-sanctioning, even though Hungary has opposed the European Union's plan to do the same.

Since the start of the year, the price of the international benchmark of crude oil has increased by 50%.

Some of the financial pain of sanctions on Russia has been alleviated by the rise in energy prices.

Despite the tough Western sanctions, Iran has been able to sell its oil. The sanctions were put in place after the US pulled out of the Iran nuclear deal.

The receipt of revenues from the export of oil, gas condensate, natural gas, petroleum products and petrochemical products in the first two months of this year has increased dramatically compared to the same period last year, according to Forouzandeh.

Saudi Arabia's oil exports reached a six-year high of $30 billion in March, according to the country's statistics office.