Officials Warn Naval Blockade Is Pushing Iran's Economy Toward Collapse

Iranian regime moderates and economists warned the US naval blockade of the Strait of Hormuz is bringing the economy 'close to collapse,' with no tankers loaded at Kharg Island — which normally handles roughly 90% of Iran's oil exports — for at least a week. Reported figures showed annual inflation at 88.6%, unemployment at 9.1%, and GDP contracting an estimated 5.4% for the year. Iran's deputy foreign minister said sanctions relief through a US deal is 'desperately needed,' even as Tehran maintains maximalist demands — lifting the blockade, withdrawing forces, and ending the war — before fully reopening the strait.