Politics
US naval blockade and sanctions contract Iran's economy as oil exports collapse
September 21, 2026 at 11:56 AM · Updated 25d ago
Coverage
4 reports · 2 in Arabic, 2 in English · over 5 hours
SNSky News Arabia
اعتراف جديد من رئيس إيران: التضخم يلتهم أي زيادة للرواتب
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AJAl Jazeera English
How an economic squeeze is changing everyday life and work for Iranians
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MAMasrawy
الحصار الأمريكي يخنق اقتصاد إيران.. هل تدفع الأزمة طهران إلى التفاوض؟ | مصراوي
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AJAl Jazeera English
How oil, gas losses have shrunk Iran’s GDP by 10 percent during war
(opens the publisher’s site)Iran's economy has contracted sharply under a US naval blockade and sanctions campaign, with official data showing GDP fell during the spring quarter.
- Iran's GDP shrank 10.1 percent year-on-year between March and June, while the oil and gas sector contracted 26.4 percent, official data showed.
- Iranian crude loadings collapsed from about two million barrels per day in March to 220,000–255,000 in August, according to Kpler and Vortexa.
- Treasury Secretary Scott Bessent pledged to cut "every economic artery" linking Iran to the global financial system through new sanctions.
- Iran's security chief Mohsen Rezaei said conditions for ending the war include releasing Iran's frozen funds and ending the naval blockade.
- Iran's government unveiled cost-cutting measures including reduced office hours, remote work and free public transit after raising petrol prices.
- President Masoud Pezeshkian signed a directive promoting energy savings as part of broader austerity efforts.
- President Masoud Pezeshkian said inflation is eroding the value of salary increases as his government seeks to counter declining real incomes.