Can Tehran survive a ‘zero oil’ budget, if US blockade on Iran persists?

The government is defiant and planning for the worst, but persisting siege is expected to make most Iranians poorer over the coming months. Tehran, Iran – After months of oscillating between new bouts of fighting and negotiations, the administration of United States President Donald Trump has reportedly opted for a third option – gradual economic pressure on Tehran.

US Secretary of State Marco Rubio told his Group of Seven (G7) counterparts in Paris on Tuesday that a naval blockade, stringent sanctions and overland border disruptions could continue without a clear endpoint in sight, according to US media. He later said that Iran’s economy “continues to collapse” and predicted worsening conditions over the next one to three months.

Tehran-based economist and market analyst Isaac Saidian said that if the persistent economic siege on Iran brings the country’s oil incomes down to near-zero levels, Tehran will be faced with one of the most difficult challenges in its recent history.