Iran’s foreign trade has suffered a sharp contraction in the first month of war with the United States and Israel, newly released customs data show, signaling a severe blow to the country’s already fragile economy.
Amid Iran’s closure of the Strait of Hormuz and the ensuing US blockade, an old energy fantasy has resurfaced that cutting off a country’s oil exports works like flipping a switch. But reality is less cinematic and far more uncomfortable.
Recent tracking data suggesting Iran is still moving millions of barrels of crude despite a US naval blockade has raised fresh questions about the effectiveness of Washington’s effort to choke off Tehran’s oil exports.
As Washington and Tehran navigate a fragile ceasefire, one of the biggest questions looming over the conflict may not be about Iran at all—but China.
Iran’s economy is heading into a period of sharp deterioration following the March war, with mounting pressure from inflation, currency depreciation and damage to key industries raising the risk of a broader crisis.
Iran-UAE ties have unraveled over the past two months, beginning with Iranian airstrikes on Emirati targets during the US-led war and escalating into a crisis that now threatens one of Tehran’s most vital trade and financial channels.
After nearly two months of closure, Tehran’s stock market is preparing a phased reopening, but deep structural flaws, lack of transparency and uncertainty over US negotiations threaten to turn the restart into a fresh crisis.
Food prices surged and basic goods slipped out of reach across Iran, citizens told Iran International in recent days, describing shortages and daily price jumps following a ceasefire that has coincided with worsening economic conditions.
As uncertainty clouds the next round of Iran-US talks, the economic pain of the war is mounting inside Iran and beyond, increasing pressure on both sides to find a way out.
IRGC-linked Tasnim has pointedly mapped the Persian Gulf’s undersea internet cables and cloud infrastructure in what appears to be a thinly veiled warning that the region’s digital backbone may now be in Iran’s line of fire.
Iran is facing severe shortages of key petrochemical products after recent strikes on its main production hubs, according to two informed sources inside the country.
Iran’s economy is likely to buckle faster than the United States or the global economy under the combined pressure of war, sanctions, a US blockade and Tehran’s disruption of the Strait of Hormuz, experts said at Iran International’s townhall in Washington DC.
Malaysia’s Karex Bhd, the world’s largest condom producer, plans to raise prices by 20% to 30% and possibly more if supply chain disruptions linked to the Iran war persist, its chief executive told Reuters.
Fraudulent messages offering ships safe passage through the Strait of Hormuz in exchange for cryptocurrency have been sent to some shipping companies, Reuters reported on Tuesday, citing a maritime security firm.
Bread shortages and steep price hikes are undermining access to a key staple for many in Iran, with citizen accounts received by Iran International describing long lines, flour shortages and prices far exceeding official rates.
The Iranian government has stepped back from earlier promises to compensate homeowners whose properties were destroyed in US-Israeli strikes, triggering anger among residents who expected the state to take responsibility for rebuilding.
One hundred days after protests erupted across Iran in January 2026, the events continue to reveal something fundamental about Iranian society: many people now fear silence more than they fear protest.
One hundred days after thousands of protesters were massacred on January 8 and 9, Iran's already fragile economy has sharply deteriorated, with millions feared to be unemployed as a devastating war compounds the crisis and accelerates economic collapse.
Freelancers and small business owners say their incomes have collapsed and daily operations have halted during Iran’s prolonged internet shutdown, which NetBlocks said has caused $1.8 billion in losses over 48 days.
Iran has halted exports of all petrochemical products until further notice to prevent shortages of raw materials and stabilize the domestic market, state-linked media reported.
The US Treasury has warned banks in the Middle East and East Asia to halt Iran-linked transactions or face potential sanctions, signaling a stepped-up enforcement push targeting the financial networks that move Tehran’s oil revenues.
War damage to Iran’s economy has reached $270 billion in 40 days, equivalent to roughly $3,000 per person, according to official figures, with losses expected to grow as trade disruptions deepen under a US blockade of Iranian ports.