Iran boasts $129B in foreign assets

UPI: Amid threats of further sanctions, Iranian officials Monday said foreign assets held by the Central Bank of Iran soared to $129 billion based on oil markets.

United Press International

TEHRAN, Sept. 29 (UPI) — Amid threats of further sanctions, Iranian officials Monday said foreign assets held by the Central Bank of Iran soared to $129 billion based on oil markets.

The Central Bank of Iran Monday said its revenue from oil and gas exports rose 29 percent from 2007 figures, the Iranian Press TV reported.

Iran puts an average of 4.05 million barrels of crude oil on the international market per day during the course of a year. Revenue generated from those sales topped $81 billion alone, the report said.

Banking officials, however, noted the rate of inflation for August was more than 27 percent.

The U.N. Security Council Saturday passed Resolution 1835 urging the Islamic Republic "to fully comply and without delay with its obligations (under relevant U.N. resolutions) and to meet the requirement of the International Atomic Energy Agency board of governors."

Though no new economic sanctions were proposed in the resolution, the economic and political pressure on Iran has had an impact on some sectors of the oil and gas sector in the country.