In Iran sanctions news, the United States says sanctions imposed on Iran have cut Tehran’s oil revenue by 50%. The US Energy Intelligence Bureau in its most recent report on the energy status in Iran wrote international sanctions against Iran have had significant effects on Iran’s oil and gas industry. Revenue from exporting of oil and gas exports in Iran was $118 billion in the financial year of 2011-2012 and in 2012-2013 this nosedived 47% to $63 billion.