The Islamic Republic's central bank says Iran's economy contracted by about 12.1% in spring 2026, and that economic growth in the month of Tir (late June to July) was negative 5.6%.
Citing a Binance document, the Wall Street Journal revealed details of 21 accounts in the Babak Zanjani network; at least $67 million reached wallets linked to the IRGC.
With about 4,700 megawatts of industrial and petrochemical power capacity knocked out, the Islamic Republic is looking to imports from Turkey and Turkmenistan to make up for the outages.
On Thursday, 8 October, the US Treasury sanctioned 17 tankers of the Islamic Republic's shadow fleet and the 17 companies that own them to cut off the regime's oil revenue.
According to Iran International, the economic crisis has driven a number of Iranians to Armenia to work in construction, taxi driving and motorbike delivery.
Islamic Republic officials warn of gas shortages and possible blackouts this winter; Golestan, Mazandaran and North Khorasan may face 60 to 90 days of gas cuts.
According to Iran International, senior IRGC commander Hossein-Reza Sadeghi and his son Saeed played a central role in preserving the IRGC Intelligence oil-sales network and moving its finances from the UAE to Russia.
Sri Lanka has rejected the Islamic Republic's request to supply food and water to sanctioned Iranian tankers that have been stranded in international waters for months since the Hormuz blockade.
The US Treasury Department warned on Monday, 5 October, that foreign banks dealing with sanctioned banks of the Islamic Republic may be sanctioned without prior warning.
US Treasury Secretary Scott Bessent said on Monday, 5 October, that the economic pressure campaign against the Islamic Republic has paid off and the rial has fallen to its lowest level in history.
The Pezeshkian government said Oil Minister Mohsen Paknejad resigned for "personal" reasons, but his departure comes as oil exports have stopped under the US naval blockade and pressure mounts on the network of oil-sales middlemen. Hamid Bord has been named acting oil minister.
The head of FARAJA's economic security police said on Monday, 5 October, that under a directive from the Tehran prosecutor, websites that in his words publish "false" exchange rates will face judicial and police action from that day; meanwhile the dollar hit a new record on the open market.
The spokesman for the Pharmacists' Association reported a worsening shortage of essential psychiatric drugs due to disruptions in raw-material imports, and the spokesman for parliament's health committee said patients have been identified who sell the medicine they receive to make ends meet.
According to The New York Times, public- and private-sector employees in Iran, including nurses and teachers, are announcing on social media that they are quitting because their pay is inadequate; meanwhile Mohsen Rezaei admitted in a meeting of the government's economic headquarters that the situation is unprecedentedly difficult.
According to Reuters, citing Kpler data, Middle East crude exports reached 19.5 to 22.5 million barrels per day on four days of the last week of September, exceeding the pre-war average; at the same time, attacks on tankers have intensified.
In a directive to banks, the Central Bank of the Islamic Republic has said that granting any direct or indirect credit, even through digital platforms, for buying gold, foreign currency or cryptocurrency is prohibited, and that managers who break the rule will be referred to the judiciary.
The first flight by an Iranian airline landed at Najaf airport on Sunday, 4 October; the United States has allowed Iraq to receive 40 Iranian flights a day to the city, with the exception of Mahan Air.
Mohammad Sharifi-Moghaddam, secretary-general of the Nurses' House, says that at the current dollar rate nurses' average pay has fallen to about $100 a month, around 70,000 nurses are staying at home and a wave of resignations in the profession is continuing.
Exchange rates on Tehran's open market broke records again on Sunday, 4 October: the dollar passed 272,000 tomans and the euro 307,000 tomans, and the Emami gold coin reached about 275 million tomans, while Iran's oil exports have effectively come to a standstill.
