Iran's oil sector and economy are facing a growing crisis as the US-imposed blockade on the country's oil exports begins to take its toll. The sanctions, which were reinstated after the US withdrew from the 2015 nuclear deal, have led to a significant decline in Iran's oil exports, with many major buyers, including China and India, reducing their purchases. As a result, Iran's oil revenues have plummeted, exacerbating the country's already dire economic situation. With the Iranian rial continuing to plummet in value and inflation soaring, the government is struggling to maintain stability and provide for its citizens, raising concerns about the potential for widespread unrest.
Iran’s Oil Sector and Economy Are Under Pressure as U.S. Blockade Bites The New York Times
