Iran’s president said sanctions and the US naval blockade had caused exports and imports to slump by nearly 35 percent.
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Iran’s leaders have acknowledged the mounting economic damage of six months of war with the United States, with the president saying foreign trade has shrunk by more than a third under US sanctions and a naval blockade.
The admissions came on Saturday as Tehran signalled it would not back down, pledging to withstand US pressure, pursue diplomacy and maintain what it says is control over the Strait of Hormuz.
