Iran's Oil Exports Near Zero, Rial Plummets as Officials Vow 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 said Iran is "fully prepared" for new US sanctions. Hemmati acknowledged "serious issues" like runaway inflation but argued "enduring hardship is very different from collapse."