What lies ahead for Iran’s economy as scope of US war grows beyond Hormuz?
Iran’s Petroleum Ministry said increased oil prices generated about $3bn in additional value in the first half of the year and $11bn from the yields has so far been transferred to government coffers despite US embargoes. Advertisement During the previous blockade that was imposed on April 13 and lasted a little over two months, Iranian authorities attested to near-zero crude exports. The US says Iranian oil magnate Mohammad Hossein Shamkhani plays a central role in Iranian and Russian shadow fleet operations.Iran has also said it has been redirecting multiple ships each day to keep the strait closed as its armed forces emphasised that they will not bow to pressure.
- ▪Iran’s Petroleum Ministry said increased oil prices generated about $3bn in additional value in the first half of the year and $11bn from the yields has so far been transferred to government coffers despite US embargoes.
- ▪Advertisement During the previous blockade that was imposed on April 13 and lasted a little over two months, Iranian authorities attested to near-zero crude exports.
- ▪The US says Iranian oil magnate Mohammad Hossein Shamkhani plays a central role in Iranian and Russian shadow fleet operations.Iran has also said it has been redirecting multiple ships each day to keep the strait closed as its armed forces
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| Original publisher | Al Jazeera English |
| Canonical URL | https://www.aljazeera.com/news/2026/7/26/what-lies-ahead-for-iran-as-scope-of-us-war-grows-beyond-hormuz?traffic_source=rss |
| Publication time | Sun, 26 Jul 2026 19:31:58 +0000 |
| Retrieval time | 2026-07-26T19:43:17.400Z |
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News|US-Israel war on IranWhat lies ahead for Iran’s economy as scope of US war grows beyond Hormuz?Mediation efforts continue but uncertainty remains as risks of further disruptions in international waterways grow.ListenListen (9 mins)SaveClick here to share on social mediashare-nodesSharefacebookxwhatsapp-strokecopylinkgoogleAdd Al Jazeera on Googleinfoplay videoplay videoVideo Duration 04 minutes 52 seconds play-arrow04:52Iran says progress made in talks with Oman on Strait of HormuzBy Maziar MotamediPublished On 26 Jul 202626 Jul 2026Tehran, Iran – Iran and the United States have returned to mediated talks, and their military action is temporarily suspended, but the war continues to impact international maritime corridors beyond the Strait of Hormuz as well as domestic markets.The…
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