Iran condemns new U.S. sanctions as oil exports halt

Iran has condemned a new series of United States economic and trade sanctions, labeling them as ‘economic terrorism’ and a crime against humanity. The Iranian Foreign Ministry stated that these measures are a continuation of decades of hostility and represent another side of warfare that threatens global peace and security.

Central Bank of Iran Governor Abdolnaser Hemmati confirmed that Iranian oil exports have come to a total halt due to the ongoing conflict and U.S. pressure. This stoppage has severely impacted the country's primary source of foreign exchange revenue. Hemmati noted that the situation is particularly acute for Iran because Washington has frozen its foreign exchange reserves, preventing the country from accessing its funds.

Additionally, funds that were expected to be released under the Islamabad Memorandum—an agreement reached in June intended to pave the way for a final deal—have not yet been freed. The economic strain is also affecting regional trade, specifically with Iraq, where Iran previously exported billions of dollars in goods and services annually.