Iran’s war with the US is not its only conflict as internal crises mount

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-08-19 • Permanent link

Escalating tensions between the US and Iran have sent shockwaves through the global economy, with oil prices surging by 10% in the past week alone. The conflict, which began in January, has resulted in the deaths of over 1,000 civilians and military personnel on both sides, with the US imposing severe sanctions on Iranian assets. The Iranian rial has lost nearly 70% of its value against the US dollar, making imports even more expensive for the already struggling population.

Fears are growing that the economic crisis will have a devastating impact on the livelihoods of ordinary Iranians, who are already struggling to make ends meet. With inflation expected to reach 40% by the end of the year, many are bracing themselves for a tough winter. The US, meanwhile, is bracing for the potential consequences of a prolonged conflict, including a possible collapse of the global oil market.

Historically, Iran has faced significant economic challenges, including a devastating war with Iraq in the 1980s that left the country with deep scars. However, the current crisis is different in scope and scale, with the US imposing unprecedented sanctions that have crippled the country's economy. According to Dr. Saeed Kamali, a leading economist at the University of Tehran, "The sanctions have had a devastating impact on Iran's economy, with many businesses forced to shut down or operate at a fraction of their capacity.

As the situation continues to deteriorate, investors are bracing themselves for the worst. The Iranian stock market has plummeted by over 50% in the past year, with many analysts predicting a further decline in the coming months. Meanwhile, the US is watching the situation closely, with some experts warning of the potential for a global economic meltdown if the conflict escalates further.