Iranian Official: Economic Situation Extremely Painful, Preparing for New US Bombing

An Iranian official in Tehran said the economic situation in his country is "extremely painful," but noted that Iran is "adapting to the pressures."

Bloomberg quoted the official, who requested anonymity to speak candidly, saying that "Iran is preparing for a new US bombing campaign that could be larger than its predecessor, and that it has the capability to retaliate."

He added that "Iranian leaders feel the weight of pressure after 7 months of war with the United States."

Iran's inflation rate is approaching 90%, while oil flows through the Strait of Hormuz are recovering despite threats of Iranian attacks, at a time when US President Donald Trump is sending another aircraft carrier to the region, along with 10,000 Navy and Marine Corps personnel.

A US blockade is strangling Iran's crude oil exports, while diplomatic efforts remain stalled.

According to Bloomberg, Iranian officials do not see a high probability of reaching a peace agreement before the US midterm elections scheduled for November 3, and believe there is a high likelihood of escalation afterward.

The Islamic Revolutionary Guard Corps announced on Friday its readiness to deliver an "immediate, painful, and regrettable response" to any American or Israeli aggression, according to the state-run Islamic Republic of Iran Broadcasting.

Pressures on Iranian influence in the Strait of Hormuz come at a time when the country faces a difficult economic situation, as rising inflation erodes Iranians' purchasing power.

The Iranian rial has also lost about 25% of its value against the dollar over the past two months, leading to higher costs for imported goods and increased pressure on households and consumers.

These developments indicate that economic pressures coincide with fears of renewed military escalation, as Iran, according to the official, prepares for the possibility of the United States launching a new bombing campaign.