Iran's Economy Crumbles Under Strikes & Blockade

0:00On April 28th, Iran's economy is taking a brutal hit from over five weeks of U.S. in Israeli strikes, plus a U.S. blockade on its ports. Factories across the country around 20,000 of them, or 20% of production, have been damaged or shut down. That's led to at least one million jobs lost already, with millions more at risk as still mills, petrochemical plants, and even drug makers go. Offline Prices are spiking hard, too. Cracking costs have jumped 75% in the last month. Beef and lamb of 68% and many dairy items have doubled. The blockade is choking imports and oil exports worth billions, while strikes on key industries like steel and chemicals ripple through everything, from packaging to construction materials. Folks on the ground are feeling it deep. Carpet makers in Qashan have mostly halted operations, exports tanked, and small businesses rely on online sales are gutted since the internet. Shut down Construction projects are frozen, forcing layoffs at major contractors, and families are

1:02scraping by with empty shelves and rising unemployment. Iran's leaders are playing tough, betting their sanction hard and economy can outlast President Trump. They've got leverage with control over the strait of hormones, threatening to close it unless the blockade ends and war stops. Officials tout stockpiles, like enough steel for four months, and cement for six to buy time. Still, with protests brewing from past economic pain and social security strained, the real test is whether Iran can rebound without lifting. Sanctions. Leaders project resilience, but the pain is mounting fast. I'm Cory with the story, and you've been listening to Global News today, AI-powered global coverage.