Iran's Economic Strife: War Beyond Hormuz The recent mediated talks between Iran and the US have temporarily suspended military action, but the war continues to wreak havoc on international maritime corridors and domestic markets.
The near total closure of the Strait of Hormuz has had a ripple effect, with disruptions in the Red Sea by the Iran aligned Houthis in Yemen and Ukraine's attack on an Iranian vessel in the Caspian Sea keeping tensions high.
The US military's naval blockade of Iran's southern ports for a second time is squeezing oil exports and exacerbating existing economic woes. The government has sold $11.