Iran’s Economy Is Buckling Under the Weight of War
India's Coal Demand Set to Hit 1.6 Billion Tons by 2030 RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established.
We provide what many… Every week, the shopping lists of Iranians become shorter as inflation soars and purchasing power plunges.
“As things disappear from the dining table, fruit goes first, then dairy products, then anything considered non-essential,” a woman in the Iranian capital, Tehran, said in an audio message sent to RFE/RL’s Radio Farda.
“Ultimately, everything we buy is only essentials, but even then, nothing is affordable,” added the woman, who spoke on condition of anonymity for security reasons.
She is among the millions of Iranians who are grappling with the economic fallout from Iran’s five-month-long war with the United States and Israel.
Years of international sanctions and government mismanagement had already crippled Iran's economy.
But the war has pushed the country of some 90 million people to the verge of economic collapse.
The crisis was already boiling over before the first air strikes.
Spiraling inflation, a currency freefall, and deteriorating living conditions touched off protests at the end of December – two months before the war started -- resulting in what many analysts called the gravest threat to the Islamic regime since the revolution that brought it to power in 1979.
From shop owners to seniors to students, hundreds of thousands of Iranians took to the streets in all 31 provinces to show their anger toward leaders they accused of running the country into the ground.
Protesters brazenly challenged Supreme Leader Ayatollah Khamenei – who was killed during the first day of the war by US and Israeli air strikes -- with chants of “Death to Khamenei” as they vented over the daily economic hardships they faced.
The threat to authorities led to a deadly crackdown by security forces.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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