Iran in September 2026: the most important developments in economy
In September 2026 the Iranian economy was under US sanctions and a naval blockade during the war with the United States. The most reported step was aimed at Iranian airlines. On September 8 the US Treasury imposed sweeping sanctions on Iran's aviation sector, and Iran condemned measures against 27 airlines as economic terrorism. On September 21 Washington announced that all Iranian airlines would face a global shutdown from September 23, and Treasury Secretary Scott Bessent warned of secondary sanctions and a banking ban on companies that assist them. China opposed what it called illegal unilateral sanctions, and an Iranian flight landed in China regardless. The UAE, Oman, Iraq, Georgia and others suspended Iranian flights, and Turkey seized an Iranian airline's plane over unpaid debts.
The currency and oil exports were the second theme. The rial hit record lows on September 2, 12 and 29. Iran doubled gasoline prices for its heaviest consumers, and reports described shortages of medicines. The US blockade restricted oil exports, and by September 12 the number of vessels redirected had reached 100. Iran said it was using barter with China, shadow networks, cryptocurrency, and land routes through Turkey, Iraq and Central Asia. A report on September 29 said Iran's oil exports had risen to 80 percent of pre-war levels.
The Strait of Hormuz and oil prices formed the third thread. Iran blacklisted up to 56 ships and declared a restricted zone, and traffic fell to as few as four ships a day. Oil rose above $100 on September 9, reached about $108 to $110 in mid-month, and moved between $102 and $105 in late September as US-Iran talks stalled. Iran offered to reopen the strait within seven days, and Trump rejected the offer.
On September 28 and 29 Trump denied a report that the US was considering sanctions relief for progress on Iran's nuclear program, calling it a hoax, while Tehran said it was ready for talks.
by WorldBrief & Maksim Micheliov | AI-generated summary
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