Iran’s president admits ‘we have many problems’ and missiles ‘are of no use’ as the U.S. chokes its economy while weakening Tehran’s grip on Hormuz | Fortune0

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• August 31, 2026

Iranian President Masoud Pezeshkian acknowledged his country’s economic woes amid pressure from the U.S., which is strangling its trade while protecting other countries’ ships carrying oil through the Strait of Hormuz. Recent weeks have seen Tehran lose leverage over the critical energy chokepoint as traffic picks up, especially via a southern route along Oman’s coast.