Report: Trump's Economic Squeeze on Iran Working
By Solange Reyner | Monday, 24 August 2026 06:59 PM EDT
President Donald Trump's economic squeeze on Iran is already working, Axios reported.
Specifically, Iran's currency has taken a hit, and inflation is projected to hit its highest level — 68.9% — since 1979. Iranians are having trouble affording basic needs and jobs are disappearing as recession fears rise.
Oil exports have also collapsed amid the war with the U.S. as the country is now essentially no longer exporting oil.
The report comes as Treasury Secretary Scott Bessent on Monday signaled that a campaign aimed at Iran and dubbed "Operation Economic Outcast" would include coordination among allies.
https://www.newsmax.com/newsfront/iran-donald-trump-economy/2026/08/24/id/1267180/