24 Hrs
Source:
عربي21
Iran responds to sanctions with austerity measures
Iran has affirmed that the ongoing American naval blockade of its southern ports significantly impacts its economy, with exports and imports declining by up to 35%. Despite this, Iran has succeeded in marketing approximately 90 million barrels of oil since the memorandum of understanding was signed with Washington in June. The Iranian government announced a plan to reinforce austerity measures and implement strict regulations on the performance of institutions, while ensuring that supplies of gas, electricity, and water to vital sectors are not cut off, in an effort to counteract the economic pressures caused by sanctions. Tehran stressed that it will not remain passive and will take strong measures in response to the blockade, emphasizing that imposing a complete embargo on Iran is impossible due to its borders with 15 countries and multiple transit routes. Conversely, Washington launched a "Financial Boycott" campaign to sever financial ties with Iran, warning countries against engaging with Tehran. As part of these efforts, more than 140 ships have been redirected, and nine others detained under blockade measures.
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