DUBAI: Iran’s central bank governor has rejected US claims that the country’s economy is collapsing, describing the portrayal of an economic meltdown as an illusion. His remarks came as Washington maintained a naval blockade targeting Iranian ports, seeking to halt the country’s oil exports and deplete government revenues.
According to Reuters, the governor made the remarks on Wednesday on the sidelines of an International Monetary Fund (IMF) meeting in Bangkok, dismissing US assertions about Iran’s economic collapse as Tehran faces mounting external economic pressure and growing trade difficulties.
US Intensifies Economic Pressure on Iran
According to the report, Washington reinstated its blockade of Iranian ports in July and launched “Operation Economic Outcast” on August 24. The campaign aims to sever Iran’s remaining financial and commercial ties with the global economy.
Data from energy intelligence platform Vortexa showed that Iran’s seaborne crude oil exports had averaged 230,000 barrels per day over a 14-day period at the beginning of September. However, exports fell to zero in the second week of September and remained at that level as of October 5, according to the report.
Iranian Airlines Also Targeted
The report said Washington expanded its economic campaign in September to target Iranian airlines, further isolating the country and making its international connections more limited and costly.
Meanwhile, the Iranian rial has suffered a substantial decline against the US dollar amid mounting American pressure.
According to exchange-rate data from Bonbast, a tracker of Iranian currency rates, the rial has lost nearly 35% of its value against the dollar since July.
Iran’s economic challenges include falling oil exports, restrictions on financial and commercial links, and a weakening currency. Despite these pressures, the country’s central bank governor has rejected the US portrayal of Iran’s economy as being on the verge of collapse.
