Published : 14 Oct 2026, 06:24 PM
Updated : 14 Oct 2026, 06:23 PM
Iran’s central bank governor dismissed US claims that the country’s economy was collapsing on Wednesday, as a naval blockade targeting Iranian ports and oil exports deepens pressure on Tehran’s finances.
Washington reinstated its blockade of Iranian ports in July and launched “Operation Economic Outcast” on Aug 24, aiming to cut off Iran’s remaining financial and commercial links with the global economy.
Iran’s seaborne crude exports fell to zero in the second week of September from an average of 230,000 barrels per day at the start of the month, according to energy intelligence platform Vortexa. Exports remained at zero as of Oct 5.
In September, Washington expanded its campaign to target Iranian airlines, further isolating the country and making travel and other links with the outside world more limited and costly.
The US pressure has coincided with a sharp decline in the Iranian rial. The currency has lost nearly 35 percent of its value against the US dollar since July, according to exchange-rate data from Iranian currency tracker Bonbast.
Central bank governor Hemmati said the bank was prioritising efforts to curb inflation, stabilise inflation expectations, preserve financial stability and maintain banking and payment services. It was also seeking to secure foreign currency for medicines and other essential goods.
Annual inflation reached 73.6 percent in September, according to the Statistical Centre of Iran.
In late September, Iran’s central bank launched a programme to sell up to $2 billion through state banks in an effort to support the rial.
