Iran's trade falls 35% under US sanctions, president says
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Iran's exports and imports have fallen 35% under renewed US sanctions, President Masoud Pezeshkian said. The country sold about 90 million barrels of oil during a period of eased restrictions but can no longer sell at previous volumes. Annual inflation reached 66% in July, compounding the pressure.
Key Facts
- Iran's exports and imports fell 35% under renewed US sanctions, President Masoud Pezeshkian said.
- Iran sold about 90 million barrels of oil during a period of eased restrictions.
- Annual inflation in Iran reached 66% in July.
- Nearly 60 Iranian companies, individuals, and vessels were placed under US restrictions.
- Donald Trump warned other countries of secondary sanctions for maintaining business ties with Tehran.
Trade Decline
President Masoud Pezeshkian said Iran's exports and imports fell 35% under renewed US sanctions. The country sold about 90 million barrels of oil during a period of eased restrictions. Iran can no longer sell crude at previous volumes, Pezeshkian added.
Economic Pressure
Annual inflation reached 66% in July, compounding the economic strain. Nearly 60 Iranian companies, individuals, and vessels were placed under US restrictions. Washington linked the entities to oil revenues, nuclear technology procurement, and cyber operations.
Secondary Sanctions Warning
Donald Trump warned other countries of secondary sanctions for maintaining business ties with Tehran. The warning came as Iran faces sustained tension and high inflation.
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Iran's trade falls 35% under US sanctions, president says
