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International Business Times
International Business Times
World

Iran's Economy Keeps Deteriorating As Seven Months of Conflict With The U.S. Sends Living Costs Soaring

A U.S. blockade targeting Iranian oil exports has restricted Tehran's access to foreign currency while compounding years of inflation, sanctions and economic instability. (Credit: Amid Farahi/AFP via Getty Images)

Seven months of war have placed Iran under mounting economic pressure, further driving up the cost of everyday necessities and forcing households to dramatically reduce spending as restrictions on the country's oil exports squeeze a critical source of revenue.

While Iran's leadership has projected confidence in its confrontation with the United States, the economic consequences of the conflict are becoming increasingly difficult to contain. A U.S. blockade targeting Iranian oil exports has restricted Tehran's access to foreign currency while compounding years of inflation, sanctions and economic instability.

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