U.S. and Israeli Attacks Cripple Iran's Economy, Trigger Massive Inflation and Job Losses

Iran's economy teeters on the brink of collapse after destruction of strategic infrastructure and a six-week internet blackout.

“Oil, Currency, Inflation; How Did Iran's Economy Reach a Dead End”

BBC

Year-on-year inflation surged from 39% to nearly 72%, while food prices skyrocketed from 43% to 125%.

BBC

Fundamental sectors including oil, gas, petrochemicals, and steel suffered severe damage from U.S. and Israeli bombings.

The attack on Mobarakeh and Khuzestan steel mills threatened 30,000 direct and indirect jobs.

Damage to petrochemical plants disrupted about 85% of the country's petrochemical capacity.

The Pars Sur natural gas field was bombed, threatening 80% of Iran's electricity generation.

Traditional routes to evade sanctions are closing, and only 1% of Iranians have access to high-speed internet.

Iran increasingly turned to cryptocurrencies as a parallel financial system.

Approximately 14 million Iranians use Bitcoin, representing 2.2% of Iran's GDP.

CNN Al-Iqtisadiyah

Nobitex saw a 700% surge in outflows within minutes of the strikes.

Addresses tied to the IRGC accounted for more than 50% of total flows in the last quarter.

Cryptocurrencies function as an informal central bank.

Bitcoin's decentralized network and high liquidity make it the most suitable digital currency under sanctions.

Iran has invested in Bitcoin mining to leverage its energy resources.

Iran's oil exports have been severely constrained by sanctions.

“My city used to be very beautiful, but they did something to turn it into a soulless place”

DW

Iran's oil exports at times reached around 1.7 million barrels per day, with China as the primary destination.

The rial has lost about 80% of its value since 2018.

Inflation has exceeded 40% in several periods.

The isolated banking system magnifies transaction costs.

The UN Security Council is set to vote on a resolution to protect navigation in the Strait of Hormuz.

More than 80% of households earn less than the global poverty line.

Almost one in five Iranian youths is unemployed.

El País

Prices have shot up around 40% since the war began.

The central bank issued its largest-ever currency denomination.

Citizens face rising psychological and economic pressures without direct combat.

Power outages and supply chain disruptions have turned daily life into a fight for survival.