U.S. Treasury: U.S. blockades and sanctions have dealt a heavy blow to Iran's economy
2026-10-31 05:27:14
According to CoinMeta, a report from the U.S. Treasury Department indicates that U.S. maritime blockades, economic sanctions, and disruptions to land export routes have severely impacted the Iranian economy. Since August, the Iranian rial has depreciated by about a quarter, and in October, the unofficial exchange rate dropped to a historic low of 2.687 million rials per dollar. The annual inflation rate soared to 90% in September. Since August 25th, Iran has stopped loading crude oil onto oil tankers and has sold the remaining oil that was stranded at sea. In addition, thousands of trucks are stuck at the Turkish border, causing delays of up to 20 days. Iranian banks face additional restrictions in several countries, and some nations have suspended flights operated by Iranian airlines. U.S. Treasury Secretary Steven Mnuchin stated that economic pressure is having an effect and may further weaken the stability of the Iranian regime and compel it to make concessions in negotiations. However, the report does not suggest that the Iranian regime is on the verge of collapse.
Source:Jin10 Data
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