Business · 1 hour ago
Iran's economy shrinks 10% as US pressure hits oil exports
Iran's economy shrank by 10.1% during the initial three months of the Persian year, driven by a 26.4% fall in its vital oil and gas sector. The downturn comes as the US tightens economic pressure and a naval blockade, severely limiting Iran's ability to export crude oil. President Masoud Pezeshkian stated that total trade has fallen by 25 to 35 percent, with imports particularly affected.
Reported by Al Jazeera · How we write briefs