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Iranian President says exports and imports fell nearly 35% due to U.S. sanctions and naval blockade, while officials acknowledge severe economic damage after six months of war. Tehran pledges diplomacy and defense, insists on control of the Strait of Hormuz.
Cuba has held a series of events to mark the 100th anniversary of the birth of the late President Fidel Castro, amid a severe economic crisis exacerbated by U.S. sanctions. The commemorations included an international book fair, art exhibitions, concerts, and meetings of leftist delegates from across the Americas.
Iranian Foreign Minister Abbas Araghchi on December 4 reaffirmed Tehran’s hardline position, declaring that Iranians will never bow to external pressure. The statement came amid heightened tensions with the West over Iran’s nuclear program and fresh U.S. sanctions.
The Iranian rial hit a record low of 1.81 million to the dollar amidst a US naval blockade and sanctions. Non-oil trade fell 16% in the past year and oil exports are heavily targeted by US military and financial actions.
