U.S. sanctions compel Iranian president to admit impact

Iranian President Masoud Beshzkian affirmed that U.S. sanctions are harmful to his country's economy, though he denied that they have immediate effects. He explained that Iran's exports and imports have decreased by between 25% and 35% in recent months due to the maritime blockade imposed by the United States. He pointed out that Iran is facing increasing economic pressures, especially in the oil sector, where exports have fallen to their lowest levels in six years. He also anticipated that the price of local gasoline might be raised to reflect the decline in trade activity; however, the government faces a delicate situation because of its longstanding support for subsidized gasoline. Despite ongoing sanctions, Beshzkian emphasized that Iran will withstand these pressures, amidst continuous extensive U.S. economic sanctions since Washington's withdrawal from the nuclear deal in 2018.

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