Iran's Oil Exports Nearly Halted, Rial Hits Record Low as Officials Claim Readiness for US Sanctions

Central Bank Governor Hemmati told business leaders Iran's oil exports have "almost totally stopped" and the rial hit a record 2.05 million per dollar on August 25, 2026. Economy Minister Madanizadeh declared Iran "fully prepared" for new US sanctions. Hemmati conceded "serious issues" including runaway inflation but said "enduring hardship is very different from collapse."