Iranian president says foreign trade down 35% due to sanctions and blockade
DUBAI/CAIRO: Iranian leaders are acknowledging the economic toll of war with the United States, with the supreme leader calling on the government to address the hardship while the president reported foreign trade has shrunk 35% due to the American sanctions and blockade. The warnings came even as other leaders threaten the U.S. with military retaliation and declarations that the Iranian navy…
Iranian leaders are admitting the economic impact of the conflict with the United States, as the supreme leader urges the government to tackle the growing hardships. President Masoud Pezeshkian revealed that foreign trade has declined by 35% due to American sanctions and a naval blockade of Iranian ports. The sanctions, described by the U.S. as an "economic D-Day," have further exacerbated Iran's economic woes, with annual inflation reaching 66%.
With negotiations at a deadlock, some leaders have threatened military action against the U.S. and assert Iran's control over the strategic Strait of Hormuz.
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