Iran's Foreign Trade Plummets by 35% Amid US Sanctions

Iranian President Masoud Pezeshkian reported that foreign trade has declined by nearly 35% due to US sanctions and a naval blockade. The remarks highlight the growing economic pressure facing Iran as the war reaches six months.

Iranian leaders have called for action to address worsening economic hardships, including inflation, unemployment, prices, and market management. Supreme Leader Ayatollah Mojtaba Khamenei urged the government to take measures to address these issues.

The US has imposed sanctions on several entities linked to Iranian banks, including Bank Melli. Despite this, Pezeshkian said Iran managed to sell about 90 million barrels of oil during a temporary agreement that allowed for Iranian oil exports in June.