US Treasury Secretary Forecasts Significant Economic Contraction for Iran

U.S. Treasury Secretary Scott Bessent predicts Iran's economy will shrink by over 25% by March 2027, urging citizens to prepare for fuel shortages. This severe forecast is attributed to an ongoing U.S. naval blockade, expanded sanctions, and the depletion of Iran's overseas oil reserves, which have drastically reduced its oil exports and access to foreign currency.