War weighs on Iran’s economy as US intensifies sanctions - Business Recorder
War weighs on Iran’s economy as US intensifies sanctions - Business Recorder
Source: Business Recorder
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DW NOTE
Iran's economy is collapsing under the combined pressure of US sanctions and the Hormuz closure it precipitated. The Strait has been shut for six months — 3 ships on August 23 versus the usual 85 — which means Iran cannot export crude except by overland routes or clandestine transfer. US sanctions have now choked off even those workarounds. The country that triggered the blockade is now absorbing the full economic consequence of its own miscalculation.