Iran’s leaders acknowledge economic toll of war, pledge diplomacy, defence
Iran's leaders have acknowledged the significant economic impact of six months of war with the United States. President Masoud Pezeshkian stated that foreign trade has declined by nearly 35 percent due to US sanctions and a naval blockade.
The story so far
- Aug 29
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Open questions and key claims
Iranian leaders acknowledge the economic toll of war with the United States.
Iran's president stated that sanctions and the US naval blockade caused exports and imports to slump by nearly 35 percent.
Annual inflation in Iran hit 66 percent last month.
Supreme Leader Ayatollah Mojtaba Khamenei called on the government to tackle economic and livelihood challenges.
The US has stepped up efforts to punish Iran financially with what it has billed as an 'economic D-Day'.
Foreign trade has shrunk 35% due to American sanctions and blockade.