US Sanctions and Oil Blockade Hit Iran Economy
Stifling US sanctions and an oil blockade are heavily impacting Iran as crude exports plunge and the rial hits record lows. Iranian officials warn that dwindling reserves and soaring inflation create severe domestic pressure.
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United States pressure on Iran is cutting off crude exports and collapsing the rial, leaving Tehran with only two months of gasoline reserves, three senior Iranian sources said overnight. The escalation follows months of conflict that have failed to secure diplomatic concessions from either side. The tightening financial squeeze threatens to reignite mass domestic unrest as basic household costs soar.
