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Markets

Iranian President Admits US Sanctions Severely Impacting Economy

Published 29 August 2026

Iranian President Masoud Pezeshkian acknowledged on Friday that U.S. sanctions and a naval blockade are severely impacting Iran's economy, marking a significant shift from his defiant stance just days earlier. In a state television interview, Pezeshkian stated, "We are in a war situation, and we must accept these wartime conditions," directly countering hardline officials who have claimed sanctions have no effect. The admission comes six months into a conflict initiated by the United States and Israel, and follows the unveiling of what the U.S. administration has termed an "economic D-Day" campaign. U.S.

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