Severe Sanctions Deepen Economic Crisis in Iran
Driven by the impact of the US blockade and heavy sanctions, foreign trade in Iran has declined while inflation has surged; as the administration acknowledges the crisis, the public is preparing for potential new protests on the streets.
As the crisis in Iran deepens due to harsh sanctions and economic blockades imposed by the US, the administration acknowledges the gravity of the situation, and the public anticipates new waves of protests amid mounting livelihood struggles.
Economic Impacts of Sanctions
Due to the severe sanctions and blockade imposed, the country's foreign trade declined by 35 percent, while the annual inflation rate reached the 66 percent level.
Crisis Statements from the Administration
President Masoud Pezeshkian stated that war conditions must be accepted, while Supreme Leader Mojtaba Khamenei emphasized a resistance economy.
Labor Minister Ahmad Meydari stated that they are in an economic war, while the Ministry of Foreign Affairs described the moves by the US as state terrorism.
Street Concerns and Hoarding
While Iranians struggling with the cost of living have started hoarding basic foodstuffs, concerns are being voiced that a new wave of protests could occur soon if there is no improvement in the economy.