President Masoud Pezeshkian reports a 25% to 35% decrease in Iranian trade due to U.S. sanctions and a naval blockade.
Iranian President Masoud Pezeshkian reported that national trade has fallen by between 25% and 35% under the pressure of U.S. sanctions and a naval blockade. Pezeshkian noted that while exports have decreased, imports have suffered a more significant decline, contradicting claims that sanctions have little effect. Simultaneously, Supreme Leader Mojtaba Khamenei urged for greater economic self-reliance and a reduction in reliance on the U.S. dollar. The administration announced a new sanctions campaign, "Operation Economic Outcast," to sever Iran's economic ties worldwide. As part of this initiative, the Treasury Department proposed cutting off correspondent banking access for the Egyptian bank Banque Misr UAE due to its alleged financial ties to Iran. The naval blockade, reimposed by President Trump, has significantly impacted crude oil exports. Data shows a current month's crude loadings are down more than 80% from August 2025. While the administration believes Iran will eventually capitulate, the Iranian Ministry of Petroleum stated it currently holds sufficient reserves to meet budget requirements through early 2027.