Iran's Oil Sales Have Nearly Stopped and Its Currency Has Hit a Record Low

Iran's top banker, Hemmati, said oil exports have "almost totally stopped" and Iran's money, the rial, hit a record low — 2.05 million rials for one US dollar — on August 25, 2026. Economy Minister Madanizadeh said Iran is "fully prepared" for new US trade restrictions. Hemmati admitted "serious issues" like fast-rising prices but said hardship "is very different from collapse."