Iran's top security official acknowledges 'most difficult period' amid economic crisis

Iran's top national security official has publicly acknowledged the country's economic hardship — a rare admission from a senior official as the war with the United States stretches past seven months.

The New York Times reported Sunday (local time) that Mohsen Rezaei, secretary-general of Iran's Supreme National Security Council, made the remarks at a high-level government meeting.

Iran's state news agency IRNA said Rezaei described the current situation as "one of the most difficult periods Iran has faced," adding that the National Security Council would provide all possible support.

President Pezeshkian has also recently acknowledged the economic difficulties, saying Iran had "adopted a new response framework to manage these exceptional circumstances."

Iran's economy has deteriorated since the war began in February. Even before the conflict, soaring prices and a weakening exchange rate had strained the economy, but the slide accelerated after the United States tightened sanctions and imposed a maritime blockade.

As of Wednesday, the Iranian rial had weakened to 2,567,000 rials per dollar — a record low — more than double the 1,500,000 to 1,600,000 rials per dollar seen before the war.

Analysts say the US maritime blockade has effectively cut off Iran's crude oil exports, stripping the country of its primary source of revenue.

Economic pressure on Iran is intensifying as negotiations between Washington and Tehran remain deadlocked. Iran has signaled it may reopen the Strait of Hormuz under certain conditions, but a final deal remains unlikely in the near term.