Iran GDP Shrinks 10% as Oil Sector Contracts 26% in War

Iran's GDP fell 10.1 percent year-on-year in the quarter from March 21 to June 20, official data shows, as the US-Israel war and a US naval blockade crippled oil exports. Crude and gas activity contracted 26.4 percent, while inflation hit 69.9 percent and the rial plunged past 2.2 million per dollar.