Iran's economy looks set to withstand US naval blockade

A US naval blockade of Iranian ports is likely to squeeze Iran’s oil output in the coming weeks but claims it will throw the Islamic republic into economic free fall remain premature, analysts say. After weeks of bombing and counter-strikes, focus has shifted to the standoff in the Strait of Hormuz, which ordinarily carries around a fifth of the world’s oil and liquefied natural gas. In response t