Iran’s foreign trade plunges 35% as US sanctions deepen war’s economic toll
- Posted on August 29, 2026
- By Business News Today
- 1 Views
- 1 min read
In brief
Iran's economy faces severe contraction following six months of intensified US sanctions and maritime restrictions, with foreign trade declining by over one-third. Government officials are grappling with dual crises of rising inflation and joblessness, prompting urgent calls for economic policy reforms. Negotiations regarding the Strait of Hormuz continue as the nation seeks relief from trade restrictions that have crippled commercial activities and destabilized key economic sectors.
Summary auto-generated by AI from the original publisher's content. Editorial standards.
Iran’s foreign trade plunges 35% as US sanctions deepen war’s economic toll
Iranian leaders are acknowledging mounting economic pain six months into the war with the US, as President Masoud Pezeshkian says foreign trade has fallen 35% under sanctions and a naval blockade. Supreme Leader Mojtaba Khamenei urged action on inflation and unemployment, while diplomatic efforts continue over the Strait of Hormuz.
