Iran's Economy Under Siege as Sanctions Bite

The ongoing conflict between the US, Israel, and Iran has taken a significant toll on the country's economy. According to Iranian President Masoud Pezeshkian, exports and imports have fallen by nearly 35% due to US sanctions and the naval blockade of Iranian ports.

This decline in trade is not limited to oil, as Iranian companies rely heavily on international shipping, foreign buyers, imported materials, and financial channels to conduct business. Restrictions on these areas make it difficult for companies to maintain normal import and export activity.

The economic pressure has intensified after Washington announced a broader sanctions campaign aimed at cutting Iran off from international financial and commercial networks.