Iran President Admits US Sanctions Harm Economy

Iranian President Masoud Pezeshkian acknowledged on state television that US sanctions and a naval blockade are hurting Iran’s economy, signaling a sharp reversal from his earlier insistence that sanctions would have no effect. He stated that exports and imports have fallen about 25 to 35 percent in recent months as Washington maintains the blockade, and noted disruptions to fuel imports that could trigger domestic shortages. The administration discussed raising petrol prices, proposing to double the third-tier quota to reflect the reduced trade, highlighting the political sensitivity of fuel subsidies. Pezeshkian framed the situation as a war, insisting Iran must accept wartime conditions while vowing to stand firm against economic pressure. The disclosures come as the US unveils new measures described as the “economic asphyxiation” of Iran, building on sanctions in place since 2018. Iran’s oil sales and fuel imports have been affected, prompting discussions of policy adjustments in response to the sanctions regime and blockade.