Live Blog Update| War on Iran 29 August 2026 11:07 BST Iran’s President Masoud Pezeshkian has admitted that US sanctions on his country are hurting its economy, despite just days ago insisting they would achieve nothing. Pezeshkian told state media that foreign trade had shrunk by nearly 35 percent because of US sanctions and a naval blockade of Iranian ports. Iran sold about 90 million barrels of oil during the short-lived Memorandum of Understanding that the US and Iran signed in June, when Washington permitted Iranian oil sales.
Iran's Pezeshkian admits US sanctions are hurting economy
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