US-Iran Conflict Escalates Amid Economic Pressure and Military Buildup

The US and Iran are locked in an escalating conflict that shows no signs of abating. As Washington continues to build up its military presence in the Middle East, Tehran is preparing for the possibility of a renewed US bombing campaign.

Iran's economy is already under immense pressure, with inflation nearing 90% and the rial having lost nearly a quarter of its value against the US dollar over the past two months. The country has also seen no crude oil exports in September, although some Iranian oil is still being supplied to Chinese refiners from floating storage.

The conflict began in February with US and Israeli strikes on Iranian targets, followed by Iran's restrictions on foreign shipping through the Strait of Hormuz. A two-week ceasefire was established in April but collapsed in July after Iran attacked commercial vessels in the strait.