Iranian President admits deepening crisis as US blockade squeezes economy and oil trade

President Masoud Pezeshkian told state television that Iran is grappling with “many problems,” citing inflation that has risen above 80%, food prices doubling and an estimated loss of more than one million jobs by late May. He attributed the downturn to a US-imposed naval blockade that has cut Iranian trade by roughly a quarter to a third and collapsed August crude export loadings by over 80% compared with a year earlier, according to Kpler.

The sanctions have also halted gasoline imports, creating long lines at stations and prompting the government to consider modest demand-reduction measures without overburdening citizens. Pezeshkian dismissed hard-liners’ reliance on missiles, saying they are ineffective under the current pressure. Meanwhile, US Central Command reported intensified enforcement, redirecting dozens of vessels, disabling several, and clearing mines, while alternative shipping through the Omani corridor now moves about 10 million barrels a day, keeping regional oil flow at 70-80% of pre-war levels.