Iran Trade Down 35% Amid US Sanctions, Blockade; Inflation Hits 66%

Iranian President Masoud Pezeshkian reported a 35% slump in foreign trade, attributing it to US sanctions and a naval blockade of Iranian ports. The economic toll includes annual inflation hitting 66% last month, prompting calls from the Supreme Leader to address the hardship. The ongoing "economic D-Day" by the US and disputes over the Strait of Hormuz, a strategic oil waterway, intensify global energy market uncertainty. This geopolitical instability and potential for crude oil shocks could bolster safe-haven demand for gold and strengthen the US dollar against currencies like the PKR.

بحوالہ / Source: www.brecorder.com