Pezeshkian Admits 80% Inflation Crisis, Says Missiles Are Useless Under US Pressure
Updated
Updated · Fortune · Aug 30
Pezeshkian Admits 80% Inflation Crisis, Says Missiles Are Useless Under US Pressure
3 articles · Updated · Fortune · Aug 30
Summary
Masoud Pezeshkian publicly acknowledged Iran’s economic crisis, saying inflation, unemployment and shortages have pushed people “to the edge” and that “missiles and bombs” are of no use.
More than 80% inflation, food-price jumps of 100%, a projected 6.1% GDP contraction and over 1 million lost jobs reflect the impact of a US-backed naval blockade that has choked imports, including gasoline.
Iranian trade has fallen 25%-35%, while Kpler said August crude export loadings have collapsed more than 80% from a year earlier; fuel shortages and long gas-station lines are worsening pressure on the government.
US forces say they have redirected 82 commercial vessels, disabled three and boarded two since the blockade returned, while also clearing mines and protecting an Omani corridor that now carries about 10 million barrels a day.
That dual squeeze has weakened Tehran’s leverage over the Strait of Hormuz: regional oil exports have recovered to 15 million-16 million barrels a day, even as Iran still attacks ships and tries to disrupt traffic.