US Naval Blockade Pushes Iran Toward Worst Economic Contraction Since 1980s
4 Articles
4 Articles
US Naval Blockade Pushes Iran Toward Worst Economic Contraction Since 1980s
Iran is facing its sharpest economic contraction in decades as a US naval blockade restricts oil exports, cuts access to foreign currency, and disrupts the country’s trade routes. The International Monetary Fund expects Iran’s economy to shrink by 5.4% this year, which would mark its worst performance since the 1980s.
Iran ' s oil exports are being reduced by the United States naval blockade, as floating stocks are being reduced and Chinese buyers are being directed to Saudi, Iraqi and United Arab Emirates raw materials, increasing pressure on Tehran ' s economy.
The oil revenues have been zeroed by the US naval blockade. The rial collapses and inflation increases, but experts doubt that Tehran can capitulate The US naval blockade is putting out the new Iranian oil exports from the Persian Gulf, leaving Tehran increasingly dependent on the accumulated reserves before the restoration of the [...]
The US fleet has completely cut off Iranian oil exports from the Persian Gulf, the Times of Israel reported, citing the opinion of The Wall Street Journal (WSJ). The IMF estimates that inflation in Iran will reach close to 70% this year.
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