By Professor Matthew Tasooji, Ph.D., California State University San Marcos — Scholar of Economics, Management, and Iranian Political Affairs
Iran’s brief June 2025 conflict with Israel inflicted severe economic and social shocks on an already fragile economy. Before the war, Iran’s economy was under deep stress from U.S. sanctions, oil export collapses, and mismanagement: inflation had exceeded 40–50% for years, the Rial currency was plunging, and unemployment and poverty were rampant. The war precipitated a dramatic loss of oil revenues (oil exports fell ~94%), vast military expenditure (hundreds of missiles launched), and widespread infrastructure damage. Read More