Iran's Economy Hit Hard by War with US and Israel

Iran's economic problems have worsened significantly since the start of the war with the US and Israel, due to declining oil revenues and the destruction of factories, President Masoud Pezeshkian said.

In remarks carried by Iranian media, Pezeshkian attributed rising prices to higher costs and falling state revenues resulting from a decline in oil sales.

The president stated that imported goods previously reached Iran through more direct routes but now enter the country through alternative channels, driving up their final cost.