Sanctions Impact Economy
Iranian President Admits US Sanctions and Naval Blockade Harm Economy
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Trending on XOil prices, IRGC impact, and market predictions
Key Points
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Pezeshkian said that Iran’s exports and imports have fallen by about 25 to 35 percent in recent months due to U.S. sanctions and a naval blockade.
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Iran sold about 90 million barrels of oil during the June Memorandum of Understanding when Washington permitted Iranian oil sales.
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Pezeshkian proposed raising the price of the third-tier petrol quota from 5,000 tomans to 10,000 tomans to reflect the fall in trade.
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Pezeshkian said, "Some say sanctions have no effect at all; to those people, I really don't know what to say."
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U.S. Treasury Secretary Scott Bessent outlined plans for the "economic asphyxiation" of Iran, warning of dire consequences for countries that do not join the American campaign.
Iranian President Masoud Pezeshkian admitted on state television that US sanctions and a naval blockade are severely damaging Iran's economy, reversing his earlier claims that sanctions would have no impact Middle East Eye. Exports and imports have plummeted 25 to 35 percent in recent months, with fuel imports disrupted and domestic shortages looming West Hawaii Today. Pezeshkian said, "Some say sanctions have no effect at all; to those people, I really don't know what to say" Times of Israel.
From Denial to Admission
Pezeshkian previously insisted US sanctions would fail to harm Iran's economy. Now he publicly acknowledges the damage on state media 24 News HD. This reversal marks a dramatic shift in the government's public messaging. The president is framing the crisis as wartime, urging Iranians to accept harsh conditions while vowing resistance Middle East Eye.
Trade Collapses Under Sanctions Pressure
Foreign trade has contracted sharply. Exports and imports fell between 25 and 35 percent in recent months due to American sanctions and the naval blockade West Hawaii Today. Iran's oil sales have been particularly hard hit. During a permitted sales window in June, Iran sold roughly 90 million barrels Times of Israel.
Fuel Price Hikes and Subsidy Reform
The Iranian government is considering raising petrol prices to cope with reduced imports. Officials proposed doubling the third-tier fuel quota price from 5,000 tomans to 10,000 tomans Middle East Eye. Fuel subsidies are politically explosive in Iran. Any price increase risks public backlash and economic hardship for ordinary citizens.
US Targets Economic Asphyxiation
The Trump administration is escalating pressure on Iran. Treasury Secretary Scott Bessent outlined plans for what he called the "economic asphyxiation" of Iran Times of Israel. Bessent warned that countries refusing to join the US campaign against Iran face serious consequences. The sanctions have been in place since 2018 but are now intensifying significantly.
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