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Washington Targets Iran's Oil Exports
Economic pressures on Iran are intensifying due to strict U.S. sanctions aimed at reducing its oil exports and restricting access to international markets. These measures are causing a decline in hard currency reserves, leading to a devaluation of the rial, rising prices of goods, and inflation that could exceed 80%. Additionally, the decrease in oil exports impacts government revenues and spending capacity, further burdening citizens, with expectations of about a 5.5% economic contraction this year. Washington believes that the strategy of sanctions will significantly decrease Iran’s oil income, while Tehran is betting on the Strait of Hormuz to shift the balance of pressure, despite the fact that doing so increases export costs and limits its alternative options.
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