Iran Says Exports Fell 35% as 6,000 Sailors Remain Stranded in Strait of Hormuz War
Updated
Updated · Fox News · Aug 29
Iran Says Exports Fell 35% as 6,000 Sailors Remain Stranded in Strait of Hormuz War
3 articles · Updated · Fox News · Aug 29
Summary
Iranian President Masoud Pezeshkian said exports have dropped nearly 35% under U.S. sanctions and a military blockade of Iranian ports, underscoring the economic damage six months into the war.
Mojtaba Khamenei said Iran faces mounting inflation, unemployment and price pressures as Washington expands Operation Economic Outcast, including action against a UAE bank the Treasury called a sanctions-evasion lifeline.
6,000 sailors remain stranded on hundreds of ships in the Persian Gulf, the International Maritime Organization said, with 19 seafarers killed and at least 70 attacks on international shipping recorded since Feb. 28.
Shipping through the Strait of Hormuz is still well below normal despite U.S. efforts to secure the route, a chokepoint that handled about 20% of globally traded oil and natural gas before the war.
Pezeshkian paired the economic warning with defiance, saying Iran does not seek war but will not surrender to threats as the U.S.-Iran conflict passes the six-month mark.