“Not only does Iran sell it cheaper, they sell less.”
“Mohammad Nahavandian (Iran’s vice president for economic affairs) told Iranian state TV that oil inventory (I think they mean volume) has dropped to one-eighth of where it stood in 2011.”
Bottom Line: The great bulk of their oil and gas revenue has dried up, and that was the bulk of their Government budget, as well as what paid for the imported goods they depend upon extensively. An epic economic train wreck. Inflation and shortages, unemployment and bankruptcies, war and pestilence - God’s judgement seems clear.