In a recent statement to state media, Iranian President Masoud Pezeshkian confirmed that US-led sanctions have caused a notable decline in Iran's economic performance. Pezeshkian specifically cited a nearly 35 percent reduction in foreign trade, attributing the decline to both the sanctions regime and a naval blockade affecting Iranian ports.

This admission represents a departure from the president's earlier rhetoric, where he had downplayed the potential efficacy of US economic pressure. The comments provide a rare official acknowledgement of the strain placed on the Iranian economy by international restrictions. Additionally, the report noted that Iran managed to export approximately 90 million barrels of oil during a brief period in June, following a Memorandum of Understanding that allowed for limited sales under US oversight.

While the president’s comments highlight the severity of the current economic situation, the report does not detail specific government plans to mitigate these losses or provide a timeline for potential diplomatic shifts. The discrepancy between his previous stance—that sanctions would achieve nothing—and his current assessment of a 35 percent trade contraction underscores the mounting pressure on the Iranian administration to address the country's fiscal challenges.