Iran’s Hormuz leverage wanes as U.S. economic squeeze bites
After years of surviving sanctions, Tehran is now confronting one of the harshest squeezes in the Islamic Republic's history.
Six months after a conflict that rattled global markets and threatened to escalate into a wider war, Iran appears to be facing mounting economic pressure as the United States intensifies its offensive against it. According to Iranian insiders and regional sources, the Islamic Republic is experiencing one of the most severe economic squeezes in its history, following years of existing sanctions.
A U.S. naval blockade and stricter sanctions are now curtailing oil exports, limiting access to foreign currency, and exposing growing strains within the Iranian economy. These measures have prompted U.S. and regional officials to believe that relentless economic pressure could compel Tehran to permit unrestricted passage through the Strait of Hormuz, a vital waterway that carries approximately one-fifth of the world's oil and liquefied natural gas supplies.
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