On Aug. 19, Iranian Central Bank Gov. Abdolnaser Hemmati offered one of the most candid accounts yet of the state of Iran’s economy, stating that Iran’s oil exports had almost stopped owing to the U.S. naval blockade. He added that Iranian industries had access to 30 percent less foreign currency than a year earlier. As a result, Hemmati said, the economic situation was even worse than in 2018 through 2020, when U.S. President Donald Trump unveiled his maximum pressure campaign against Tehran.
That same day, Trump announced a new campaign of “Economic Warfare and Isolation on an unprecedented scale” against Iran, warning that countries providing Tehran with “any type of lifeline” would face “TREMENDOUS Economic Consequences.”
On Aug. 19, Iranian Central Bank Gov. Abdolnaser Hemmati offered one of the most candid accounts yet of the state of Iran’s economy, stating that Iran’s oil exports had almost stopped owing to the U.S. naval blockade. He added that Iranian industries had access to 30 percent less foreign currency than a year earlier. As a result, Hemmati said, the economic situation was even worse than in 2018 through 2020, when U.S. President Donald Trump unveiled his maximum pressure campaign against Tehran.
