Tehran, May 17: Iran’s Foreign Minister, Seyyed Abbas Araghchi, has stated that while U.S. attacks have caused damage to Tehran, the financial burden of this conflict is also affecting American households. So far, there has been no progress towards a permanent ceasefire between the U.S. and Iran. Meanwhile, Russia has warned that the U.S. and Israel may resume attacks on Iran within hours or days. Reports indicate that Araghchi is prepared to restart military engagement with the U.S. if diplomatic talks fail.
In the ongoing exchange of messages between the two sides, Araghchi emphasized that despite the damages from the U.S.-Israel conflict, American families are also feeling the impact.
He remarked on social media, “Americans have been informed that they will bear the rising costs of their preferred war against Iran. Setting aside the increase in gas prices and the stock market bubble, the real pain begins when U.S. debt and mortgage rates start to rise. Auto loan obligations are already at their highest level in over 30 years.” He also shared an image showing the rising yield on U.S. financial bonds.
Araghchi predicted that this pressure would soon translate into increased borrowing costs, potentially leading to a recession.
On the other hand, Iran is also facing significant financial losses due to the conflict, with inflation rapidly increasing. The cost of living for Iranian families continues to rise. Official figures indicate that food prices surged by up to 115% by the end of April in the Persian calendar month. Essential items like cooking oil, rice, and chicken have tripled in price compared to last year.
In recent weeks, prices for food, medicine, electronics, cars, and petrochemical products have reached new heights.
The impact of this conflict on the Iranian economy is evident. On Saturday, the rial was trading at approximately 1.8 million against the U.S. dollar in Tehran’s open market, nearing the lowest level recorded earlier this month.
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Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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