{
  "id": 2928365,
  "title": "‘Everyone is depressed’: Iranians brace for Trump’s crushing economic war",
  "url": "https://urgent.news/2026/08/24/everyone-is-depressed-iranians-brace-for-trumps-crushing-economic-war",
  "topic": "world",
  "section": "World",
  "published": "2026-08-24T03:00:00.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/news/mena/2026/08/24/everyone-is-depressed-iranians-brace-for-trumps-crushing-economic-war/"
  },
  "original_language": "en",
  "account": "The United States is set to implement a sweeping economic blockade against Iran, with President Donald Trump outlining plans for the \"most crushing economic operation ever taken.\" Iran's neighbors, including France, the UAE, and the UAE, have already taken drastic measures to isolate the country by expelling Iranian diplomats, targeting cash networks linked to Iran's main proxy, Hezbollah, and suspending trade and financial ties.\n\nFor ordinary Iranians, the news has left them feeling increasingly desperate. Shop owner Farhad, who sells men's clothing in Tehran's Valiasr Square, expressed his fear for the future, citing the mounting anxieties stemming from the war and economic sanctions. He highlighted the increasing challenges faced by his business due to the war and the economic blockade, including soaring food prices and massive job losses.\n\nAccording to the Central Bank of Iran, the country's currency has weakened significantly against the US dollar, with the rial currently at 1.9 million against the dollar, compared to 1.65 million before the conflict. This has led to a sharp decline in purchasing power, with the cost of essential goods such as cooking oil and meat skyrocketing.\n\nIranian officials have warned that the country is facing severe restrictions on oil exports due to the US economic pressure. The country currently produces no oil, with the central bank chief stating that revenue from oil sales has effectively fallen to zero. This has further exacerbated the economic situation, as the government struggles to maintain access to foreign exchange reserves.\n\nThe Trump administration has vowed to target entities that provide Iran with \"lifelines,\" such as financial institutions, businesses, and government entities. Treasury Secretary Scott Bessent emphasized that the US aims to orchestrate the greatest coordinated economic isolation in history, urging allies to either join the campaign or stand against Iran.",
  "summary": "As US President Donald Trump prepares to lay out details of his “most crushing economic operation ever taken\", Iranians fear further economic isolation and hardships. A salvo of international measures against the Islamic Republic preceded the expected announcement, with France expelling Iranian diplomats, Washington ramping up pressure by targeting cash networks linked to Iran’s main proxy,…",
  "key_points": [
    "United States plans \"crushing economic operation\" against Iran",
    "Iran's currency weakens to 1.9 million per dollar",
    "International allies isolate Iran through sanctions"
  ],
  "editors_take": "The escalating US economic blockade and isolation of Iran by its neighbors is deepening desperation among ordinary Iranians, who face soaring food prices, massive job losses, and sharply reduced purchasing power.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The National Business",
        "title": "‘Everyone is depressed’: Iranians brace for Trump’s crushing economic war",
        "url": "https://urgent.news/2026/08/24/everyone-is-depressed-iranians-brace-for-trumps-crushing-economic-war-2930408",
        "published": "2026-08-24T03:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}