10 Hrs
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Lebanese Forces
Iran adopts war economy amid rising internal costs
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Iran is facing a severe economic crisis after more than six months of war, as sanctions and economic conditions have led to the collapse of the rial, rising prices, and increasing rates of unemployment and inflation. The government announced a rise in the fuel price to 100,000 rials per liter, which further worsened the suffering of families who are now forced to cut back on food and essential necessities, amid declining income and diminished purchasing power. Amid the devaluation of the currency and falling oil exports, the government is turning to a "war economy" approach to confront the economic upheavals, while American pressures on foreign currency resources continue, and the country's financial and energy sectors deteriorate.
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