Iran Admits War Has Cut Trade by 35% as Inflation Reaches 66%

Iranian leaders say six months of war with the United States, sanctions and a naval blockade have severely damaged the country’s economy. President Masoud Pezeshkian said imports and exports have fallen by almost 35%, while annual inflation reached 66% last month. The government says it will focus on reducing inflation, creating jobs and easing dependence on the dollar. Residents and business owners in Tehran report that soaring prices, rent and weak trade have made daily life more difficult. Tehran says it will combine diplomacy with military readiness, while maintaining its position on the Strait of Hormuz. Talks with Qatar have focused on restoring open shipping through the strategic waterway.

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