Iraq’s oil minister said the country’s oil exports have fallen by 75% due to the closure of the Strait of Hormuz. Bassem Mohammed Khudair said talks with the Islamic Republic are under way to allow Iraq’s oil exports, but so far they have not reached any practical result.

Based on figures from Iraq’s Ministry of Oil, the country’s oil exports fell from about 100 million barrels in Esfand to about 32 million barrels in Ordibehesht and Khordad, a decline of roughly 68%.

Other estimates show even higher figures. The Atlantic Council said the closure of the Strait of Hormuz has halted 94% of Iraq’s oil exports. According to a report by Al-Hurra, Iraq’s seaborne exports of crude oil in Ordibehesht reached only 98,000 barrels per day, which is 97% less than the same period last year.

Ali Nazzar, head of Iraq’s state-owned oil marketing company, said the country sold 42 million barrels of crude oil in Tir, which was about 105 million barrels per month before the Hormuz crisis.