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Iran's Economy Is In Shambles As War Takes Its Toll
['Tyler Durden']
Zero Hedge
The three-month-long US blockade on Iran's oil exports have also taken a toll, with national oil output dropping from 2.2 million bpd to less than 300,000 bpd.
He stated that “the combination of war and cruel sanctions has posed serious challenges to the country’s economy.
Government spokeswoman Fatemeh Mohajerani has discussed infrastructure damage (e.g., bridges, tunnels, gas and electricity capacity losses), adjustments to gasoline rations, and challenges with subsidy payments disrupted by banking issues or cyberattacks.
Crippling infrastructure damage and currency devaluation might help to explain Iran's desperate insistence on charging tolls in the Strait of Hormuz.
Even if the war ends this week as negotiations reportedly carry forward, Iran faces a long and arduous road to recovery.