Iran central bank chief says oil exports have fallen to zero

The chief of Iran's central bank, Abdolnaser Hemmati, reported on Wednesday that Iran is currently exporting no oil, warning that the country faces severe restrictions on its oil exports due to US economic pressure. Hemmati disclosed that the Central Bank of Iran had been informed by overseas counterparts that oil sales revenue had "fallen to zero."

He emphasized that Iran is not exporting oil, underscoring the reality of this situation. The government and central bank have prepared for the loss of oil revenue, but Hemmati cautioned that Iran's access to foreign exchange is increasingly constrained, raising concerns about the country's ability to maintain essential imports.

The comments followed the expiration of a 60-day framework between Washington and Tehran without a broader settlement, leaving the two sides facing a growing impasse on ending the conflict. The worsening economic situation in Iran has raised concerns about potential public discontent. The Parliamentary Speaker, Mohammad Bagher Ghalibaf, acknowledged the validity of people's economic grievances while urging unity in the face of grievances, promising to express the strength of national unity.

However, Ghalibaf warned against using the streets for political competition, emphasizing the need for expression of unity and solidarity. He also cautioned that any action undermining national cohesion could inadvertently support the enemy. Economic pressure, exacerbated by the ongoing war, has led to inflation, currency weakness, energy shortages, and sanctions, further damaging infrastructure and trade.