Iran’s economy buckles as US sanctions and blockade tighten grip on oil revenue
Iran’s economy is under growing strain from renewed U.S. sanctions and a tightened naval blockade that has slashed oil exports to about 250,000 barrels per day in August from roughly 2 million at the war’s height, squeezing foreign currency and imports amid high inflation and a falling rial. The U.S. has intercepted or redirected 86 vessels, and Tehran warns it still has tens of millions of barrels afloat, but restocking opportunities are blocked by the blockade.