Iran's Economy Worsens Amid Ongoing Conflict with US and Israel

Iran's economy is in shambles due to the ongoing conflict with the United States and Israel, according to President Masoud Pezeshkian. The president stated that declining oil revenues and damage to industrial facilities have worsened the economic difficulties since the outbreak of war.

Pezeshkian attributed the rising prices to higher costs and decreasing government revenues following a sharp drop in oil sales. 'Our revenues have declined. We used to sell oil, but now we cannot sell it,' he said.

The president also mentioned that disruptions to trade routes had increased the cost of imported goods, making them more expensive due to alternative channels being used instead of direct routes. This has further weakened the economy and reduced government tax revenues.