23 Hrs
Source:
البلاد
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Iran economy strained by war and sanctions
The article discusses the difficult economic situation Iran is experiencing under the weight of US sanctions and maritime blockade, six months after the outbreak of war with the United States and Israel. This has led to a significant decline in foreign trade by about 35%, and inflation has soared to 66%, with Iran losing approximately one-third of its exports and imports. The Iranian government is seeking to confront these crises by reducing dependence on the dollar, imposing restrictions on official agencies, and seriously addressing economic challenges such as inflation and unemployment. At the same time, the United States continues to pressure Iran economically, attempting to restrict oil sales, although Iran managed to export around 90 million barrels in a short period before renewed pressures arose. Regional diplomatic efforts are ongoing to try and reopen the Strait of Hormuz, a vital artery for global oil transportation, amid rising threats and tensions, while Iran continues to develop complex maritime networks to maintain its oil exports away from international scrutiny.
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