Iran's Economy Edges Toward Collapse

By Upward News | Created at 2026-10-06 12:27:16 | Updated at 2026-10-06 18:40:20 7 hours ago

WHAT’S HAPPENING

Iran's economy is collapsing under the weight of US sanctions and a naval blockade that has reduced the regime's oil exports to zero. Treasury Secretary Scott Bessent confirmed that for the first time since Iran began pumping oil, the country will have no oil on the water and no revenue this week.

Meanwhile, the Iranian rial has crashed to record lows as inflation soars, with discontent mounting among the Iranian population.

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