Iran’s foreign trade has suffered a sharp contraction in the first month of war with the United States and Israel, newly released customs data show, signaling a severe blow to the country’s already fragile economy. Figures from Iran’s customs administration show non-oil trade collapsed in the final month of the previous Iranian fiscal year (February […]
Iran’s foreign trade suffers wartime collapse Read More »
The economic toll of more than two months of war is visible in Iran, as a U.S. naval blockade and the effective halt of the Islamic Republic’s maritime trade triggers mounting pressure across the economy. The sharp depreciation of the Iranian rial is the clearest sign so far of a broader economic breakdown now unfolding.
The War’s Severe Damage to Iran’s Economy Comes Into View Read More »
ran is facing severe shortages of key petrochemical products after recent strikes on its main production hubs, according to two informed sources inside the country. Earlier this month, Israel targeted facilities in Mahshahr and Asaluyeh, Iran’s two principal petrochemical centers, which together account for roughly three-quarters of the country’s output. According to commercial sources who
Strikes on petrochemical hubs leave Iran short of plastics Read More »
With a tentative ceasefire expiring and an incomplete lifting of Iran’s blockade of the Strait of Hormuz, the central question now is whether Iran will receive meaningful relief—particularly in the form of sanctions easing—or whether the United States will tie the lifting of sanctions to conditions such as curbs on regional activities or missile capabilities.
Iran Under Pressure as War Exposes Deep Industrial Damage Read More »
Turkey’s energy minister has emphasized the need to launch the second phase of the “Southern Gas Corridor” pipeline to double Azerbaijan’s gas exports to Europe. The pipeline, which became operational about seven years ago, currently transports 16 billion cubic meters (bcm) of Azerbaijani gas annually to Turkey and Europe. However, with only a few billion
Renewed focus on Caspian energy transit amid the Iran war Read More »
Since the United States and Israel launched their campaign against the Islamic Republic, Iran has delivered a severe shock to global aviation, particularly in the Middle East. Normal conditions will not soon return. The current crisis goes beyond flight cancellations or air transport costs. By disrupting the Strait of Hormuz—one of the main transit routes
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The United States moved to impose a naval blockade on Iran just as the country’s oil exports were surging to their highest levels in years, underscoring Washington’s effort to halt a wartime boom in Tehran’s energy revenues. The move followed the collapse of negotiations in Pakistan and comes amid a war that has disrupted much
US blockade targets Iran oil boom amid regional disruption Read More »
Iran’s National Petrochemical Company has announced a blanket ban on the export of “all petrochemical products” until further notice. The stated aim of the decision is to “stabilize the domestic market and prevent shortages of feedstock and raw materials.” During the recent 39-day war, Israel carried out extensive strikes on Iran’s petrochemical facilities, particularly in
Israel’s recent strikes on Iran’s southern petrochemical infrastructure have raised concerns over potential disruptions to one of the country’s key sources of export revenue, underscoring the strategic vulnerability of its energy sector. In recent days, Israel hastargeted at least eight large petrochemical facilities in Mahshahr, a major industrial zone in Khuzestan province, before extending its attacks
Iran’s Petrochemical Sector Faces Fresh Strain After Israeli Strikes Read More »
Strikes on two of Iran’s largest steel facilities threaten to erase at least $6 billion in annual export revenues and flip the country from a net exporter to a net importer of the metal for the first time in years. Khuzestan Steel Company has halted operations following Friday’s attacks by the United States and Israel,
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