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The Economic Times

Global Business / The Economic Times

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Irans foreign trade plunges 35% as US sanctions deepen wars economic toll

Iranian leaders are acknowledging mounting economic pain six months into the war with the US, as President Masoud Pezeshkian says foreign trade has fallen 35% under sanctions and a naval blockade. Supreme Leader Mojtaba Khamenei urged action on inflation and unemployment, while diplomatic efforts continue over the Strait of Hormuz.

29 Aug 2026 7:41 am