How Oil and Gas Losses Have Shrunk Iran's GDP by 10 Percent During War The US Israeli conflict has had a devastating impact on Iran's economy, with its GDP shrinking by 10.
1 percent in the first quarter of this year alone. The oil and gas sector, which accounts for a significant portion of Iran's economy, contracted by a staggering 26. 4 percent compared to the same period last year.
The main culprit behind these losses is the US naval blockade, which has severely restricted Iran's ability to export its most valuable commodity: oil.