Shea Levin — text status

Iran’s central bank governor rejected claims that the country’s economy is collapsing, despite mounting pressure from the U.S. naval blockade, which has effectively halted Iranian seaborne oil exports. Iran’s oil exports reportedly fell to zero in September and remained there as of October 5, while the rial has lost nearly 35% of its value against the dollar since July. Annual inflation reached 73.6%, although Iranian officials insist the financial system remains functional.