Iran's international trade has experienced a significant decline, with imports and exports falling between 25% and 35% under the pressure of U.S. sanctions and a naval blockade, according to President Masoud Pezeshkian. He noted that imports have decreased more sharply than exports, emphasizing the tangible impact of sanctions on the Iranian economy. Pezeshkian stated, 'The decrease in exports is slightly less than the decrease in imports, and imports have decreased significantly,' and challenged those who claim sanctions have no effect, asserting that such statements are inconsistent with the current data [1].
Supreme Leader Mojtaba Khamenei responded to the economic challenges by urging a gradual reduction in the role of the U.S. dollar in Iran's economy and a shift toward greater domestic production. In a written message, Khamenei called for economic growth, increased production, and making the 'Resistance Economy' the central focus, stating, 'Equally vital is giving special attention to economic growth, boosting production, gradually phasing out the US dollar from playing a pivotal role, and ultimately, making Resistance Economy the central focus' [1].
The U.S. has escalated its sanctions campaign with the launch of 'Operation Economic Outcast,' spearheaded by Treasury Secretary Scott Bessent. As part of this initiative, the Treasury Department proposed cutting off the UAE operations of Egyptian bank Banque Misr from correspondent banking access to U.S. financial institutions, citing alleged financial ties to Iran. Banque Misr UAE reportedly processed about $1.8 billion over the past two years for 103 companies potentially linked to Iran's shadow banking network. The bank stated it is cooperating with authorities and clarified that the regulatory action is limited to its UAE branch, which continues to serve customers [1].
Iran's crude oil exports have also been severely affected, with August loadings down more than 80% compared to August 2025, according to data from Kpler. The U.S. has intensified its economic pressure on Tehran through both sanctions and a naval blockade, resulting in a sharp plunge in Iranian crude oil loaded for export [1].
CONCLUSION
Iran's trade and oil exports have suffered steep declines due to intensified U.S. sanctions and enforcement actions. Iranian leadership is responding by advocating for reduced reliance on the U.S. dollar and increased domestic production. The market impact is high, with ongoing U.S. measures likely to further constrain Iran's economic activity.