Axios reports a U.S. Treasury analysis saying U.S. maritime blockade, economic sanctions and blocked land export routes have severely hit Iran’s economy. The rial has depreciated roughly 25% since August; an unofficial October rate fell to about 2.687 mln rials per $1, and September annual inflation rose to 90%. Iran has not loaded crude onto tankers since Aug. 25 and has sold oil stranded at sea, indicating constrained exports. Thousands of trucks are stalled at the Turkish border with delays u

Axios reports a U.S. Treasury analysis saying U.S. maritime blockade, economic sanctions and blocked land export routes have severely hit Iran’s economy. The rial has depreciated roughly 25% since August; an unofficial October rate fell to about 2.687 mln rials per $1, and September annual inflation rose to 90%. Iran has not loaded crude onto tankers since Aug. 25 and has sold oil stranded at sea, indicating constrained exports. Thousands of trucks are stalled at the Turkish border with delays up to 20 days; Iranian banks face additional restrictions in multiple countries and some states have suspended Iranian airline flights, further constraining trade and financial access. Treasury Secretary Bessent said the economic pressure is working and could further weaken regime stability and push concessions in negotiations, but the report does not judge the regime to be near collapse.