Iran currency plunges as oil exports fall to near zero
Iran's currency has plunged to new record lows as a U.S. naval blockade and tightened sanctions have driven oil exports to virtually zero and clogged import routes. Kpler says Iran did not load any oil last month for the first time since the 1979 revolution, and about 90 million barrels already at sea will run out mid-month. Inflation is near 90%, GDP is expected to shrink 5.4% this year, energy is rationed, and oil typically supplies about a third of the state budget, risking a dramatic loss of hard currency and funding for security forces.
Iran faces major loss of hard currency as oil exports stop
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The United States has reimposed a naval blockade and tightened sanctions against Iran.…
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