economy
May 5, 2026
Trump aide claims 'extreme calamity' looming in Iran
White House economic advisor Kevin Hassett has claimed that Iran’s economy is nearing an “extreme calamity”
TL;DR
- A top White House official claims Iran is nearing "extreme calamity" and hunger due to hyperinflation and economic deterioration.
- The US is intensifying sanctions and has ordered a naval blockade of Iranian ports to exert economic pressure.
- Treasury Secretary Scott Bessent described US measures as "suffocating the regime" and "economic fury."
- Critics view US sanctions as economic warfare, with studies linking them to significant annual excess deaths.
- Despite US efforts, Tehran continues to control shipping through the Strait of Hormuz, and the US faces strained relations with allies and broader economic disruption.
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