Iran foreign trade falls 35% amid sanctions
Iranian President Masoud Pezeshkian said foreign trade has fallen nearly 35% amid US sanctions and a naval blockade. His remarks highlight the growing economic pressure facing Iran as the war reaches six months. Iranian leaders have also called for action to address worsening economic hardships. Pezeshkian said Iranian exports and imports had declined because of […]
Iran's foreign trade has declined by nearly 35% due to US sanctions and a naval blockade. According to Iranian President Masoud Pezeshkian, this decline is a result of reduced exports and imports. The economic pressure is mounting on Iran, with leaders calling for action to address the worsening economic hardships.
The Iranian government has made addressing economic pressures a central focus, including efforts to curb inflation, manage markets, create jobs, and direct investment towards domestic production. The US has stepped up efforts to punish Iran financially, with warnings to countries to cut business ties with Iran or face secondary sanctions.
Six months into the conflict, negotiations between the US and Iran are at an impasse. The US Treasury Department has not imposed penalties against major Iranian trade partners, but has warned of an "economic D-Day". Iran's leaders have vowed to withstand US pressure and pursue diplomacy, while maintaining control over the strategic Strait of Hormuz.
Brief written by urgent.news from Daily Times, Free Malaysia Today — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- War weighs on Iran’s economy as US intensifies sanctions freemalaysiatoday.com
- War weighs on Iran’s economy as US intensifies sanctions investing.com
- Egypt's Banque Misr reviewing US Iran sanctions notice middleeasteye.net
- War weighs on Iran's economy as US intensifies sanctions al-monitor.com
