US trade tensions deepen Iran's economic woes

Iran is facing a severe economic crisis due to U.S. sanctions and blockade measures, with foreign trade declining by 35%. Approximately 90 million barrels of oil were sold during the brief understanding with Washington in June. Additionally, Iran is suffering from inflation, rising unemployment, and challenges in managing the prices of goods and services. Meanwhile, the United States continues to exert financial pressure and issue warnings to countries against doing business with Tehran, despite not imposing sanctions on its major trading partners. At the same time, diplomatic efforts are underway by Qatar and Pakistan to revive negotiations aimed at de-escalation, amidst mutual claims regarding the Strait of Hormuz, which is controlled unofficially by Iran. This strategic waterway is a crucial passage for global markets.

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