Iran's Economy Contracting Amid US Pressure, Officials Warn

Iran's economy is worsening under US pressure, according to senior Iranian officials. During a visit to Iraq, Iran's parliamentary speaker and chief negotiator Mohammad Bagher Ghalibaf stated that military strength would not ensure the country's resilience without food and economic security.

Ghalibaf emphasized the importance of peace, saying 'As someone who has lived through war, we understand the true value of peace.' Iranian President Masoud Pezeshkian rejected criticism from hardliners regarding the ceasefire agreement with the United States, calling for an end to the war.

The US blockade is preventing Iran's access to foreign currency reserves and oil exports, according to Governor of the Central Bank of Iran Abdolnaser Hemmati. The International Monetary Fund projected that Iran's economy would contract by 6.1% this year, while inflation has exceeded 80%