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The Economic Times

Top News / The Economic Times

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Iran's president Masoud Pezeshkian admits sanctions impacting economy

Iran's President Masoud Pezeshkian acknowledged sanctions impact the nation's economy. He stated that Iran is in a war situation and must accept wartime conditions. US Treasury Secretary Scott Bessent outlined plans for Iran's economic asphyxiation. Pezeshkian mentioned a significant fall in Iran's exports and imports. He suggested increasing the price of petrol to address trade declines.

29 Aug 2026 4:49 pm