All posts tagged: regional conflict West Asia energy crisis

Why hasn’t Iran’s economy collapsed despite 100 days of US-Israel war | World News

Why hasn’t Iran’s economy collapsed despite 100 days of US-Israel war | World News

Iran is still standing after more than 100 days of US and Israel bombings that killed its top military and political leaders, reportedly destroyed its military infrastructure across land, sea, and air, and choked off its access to oil revenue. Its economy, already weakened after years of US sanctions, has taken a considerable hit. Tehran has taken a $347 billion loss due to the war, and the United Nations predicts its economy to contract 6.1 per cent this year. But why has it not been decimated, and how does it continue to arm its soldiers and provide for its citizens? Iran is not lacking in experience when it comes to economic tensions. It is a country that has battled decades of war, economic isolation, and embargoes. With so much experience, it also has found several tricks up its sleeve, which are helping it combat a lot of the challenges the nation is facing currently. Tehran has endured extended periods of low crude exports before, including during President Donald Trump’s first term in office, when he …