13 Hrs
Source:
المشهد
Iran's economy struggles amid war and sanctions
Iran is facing a severe economic crisis due to escalating war and US sanctions, with the national currency, the rial, plunging to a record low of 1.95 million against the dollar, marking a loss of about 10% since July. Inflation has soared to nearly 90%. The war has caused damages worth $270 billion and resulted in the loss of two million jobs. Additionally, infrastructure has been targeted by U.S. and Israeli bombings, and a blockade has been imposed on ports and oil routes, leading to a decline in living standards and rising prices. Despite some measures taken, economic challenges persist, and Iranians are relying on strategies such as using the Strait of Hormuz to sustain oil exports, even amid military tensions and mutual targeting.
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