Iran's Pezeshkian admits US sanctions are hurting economy
Iran's Pezeshkian admits US sanctions are hurting economy Iran’s President Masoud Pezeshkian has admitted that US sanctions on his country are hurting its economy, despite just days ago insisting they would achieve nothing. Pezeshkian told state media that foreign trade had shrunk by nearly 35 percent because of US sanctions and a naval blockade of Iranian ports. Iran sold about 90 million…
Iran's President Masoud Pezeshkian has acknowledged that US sanctions are negatively impacting the country's economy. According to Pezeshkian, foreign trade has decreased by nearly 35 percent due to the sanctions and a naval blockade of Iranian ports.
The economic challenges facing Iran are a result of the US sanctions, which have been compounded by a decline in oil sales. In June, Iran sold around 90 million barrels of oil as part of a short-lived agreement with the US that permitted Iranian oil sales.
The Iranian government has stated that addressing economic pressures caused by sanctions is a central focus, including managing markets, creating jobs, and reducing dependence on the dollar. The US has warned countries to cut business ties with Iran or face secondary sanctions, as part of its efforts to punish Iran financially.
Brief written by urgent.news from Middle East Eye, Free Malaysia Today — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- 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
- Iran foreign trade falls 35% amid sanctions dailytimes.com.pk
- War weighs on Iran's economy as US intensifies sanctions al-monitor.com
