Iran has loaded no crude onto tankers since 25 August, US Treasury report says

A US Treasury Department report obtained by Axios says the American naval blockade and sanctions have crippled Iran's economy, Newsmax reported on 30 October. According to the report, Iran has not put crude aboard a tanker since 25 August, and the 17 vessels Treasury sanctioned on 8 October neutralised most of what was left of Iran's shadow fleet. Newsmax adds that annual inflation reached 90 per cent in September and that the rial has lost about a quarter of its value since August, while thousands of lorries are stuck at the Turkish border. The report does not claim the Iranian government is close to collapse. Treasury Secretary Scott Bessent launched the pressure campaign, Operation Economic Outcast, on 24 August.

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