The development and maintenance of production capacity and the preservation of upstream and downstream infrastructure in Iran's oil industry—especially under sanctions and constraints on crude oil sales—require diverse and efficient financing mechanisms. While a high volume of liquidity exists within the economy, poor cash flow management and the inefficiency of the money market in allocating resources to the real sector of the economy have resulted in a "liquidity paradox," whereby unfinished projects and essential investments stall due to a lack of access to financial resources. In this framework, the capital market, serving as a platform for mobilizing retail savings and channeling resources toward production, provides a vital capacity for controlling liquidity, curbing inflation via bond issuance, increasing employment, and enhancing transparency. Nevertheless, challenges such as inadequate familiarity with capital market instruments, high costs of bank financing, short credit maturities, lending ceiling limitations, high collateral volumes, and the corruption-inducing effects of interest rate and inflation imbalances have complicated the path of energy project financing. Proposed strategies include transitioning to market-oriented mechanisms, formulating a comprehensive empowerment plan for refining and downstream industries, guaranteeing Islamic financial instruments through the National Development Fund, targeting an increased share of the capital market in energy financing, developing oil and gas project funds, and strengthening private sector participation through necessary infrastructure and facilities.