Iran security chief says economy faces one of country’s hardest periods

  • Mohsen Rezaei warned that Iran faces one of its most difficult economic periods.
  • The rial’s decline accelerated after U.S. sanctions and a naval blockade intensified.
  • President Masoud Pezeshkian said the government adopted a new posture without providing details.

Iran’s economy has entered one of its most difficult periods in history, according to Mohsen Rezaei, the country’s top security official, after more than seven months of war. The rial has sharply weakened since the United States and Israel launched the war in February, with the decline accelerating after Washington tightened sanctions and enforced a naval blockade. The measures have raised import costs, largely blocked oil exports and contributed to a fuel crisis, while worsening living costs have fueled job resignations and pension protests. President Masoud Pezeshkian acknowledged the deterioration and said the government had adopted a new posture, without explaining its practical details. The pressure has grown as negotiations between Tehran and Washington have stalled. Although U.S. officials say they are prevailing in the economic standoff and oil shipments have nearly returned to prewar levels, higher oil prices, threats to shipping, damaged energy infrastructure and reduced refining and natural-gas export capacity continue to weigh on the outlook. Analysts say Iran’s leaders hope the pressure will hurt President Trump ahead of the U.S. midterm elections.

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Iran security chief says economy faces one of country’s hardest periods - CoinPost Terminal