Iran’s economy in crisis as US launches new sanctions campaign

A sweeping U.S. sanctions campaign targeting Iran’s economy risks worsening the country’s already dire financial crisis, with soaring food prices and collapsing currency values deepening hardship for ordinary citizens. As petrol stations remain shuttered and foreign exchange reserves dwindle, Iranians struggle under relentless inflation and economic instability, raising concerns that further isolation could push millions further into poverty. The new measures, dubbed Operation Economic Outcast, come as the nation grapples with persistent shortages and a weakening economy. Critics argue the sanctions may do little to alter Iran’s policies but will instead inflict greater suffering on its population.

Trump’s Operation Economic Outcast is expected to push many Iranians into deeper poverty as food inflation soarsFor many Iranians, the new US sanctions campaign, called Operation Economic Outcast, seems superfluous given the grim economic situation in their country.Iranians are facing runaway food inflation, closed petrol stations and a seemingly never-ending depreciation of the nation’s currency caused by a lack of foreign exchange reserves. Continue reading...