Iran in April 2026: the most important developments in economy
Iran's economy in April 2026 was defined by the war and by the fight over the Strait of Hormuz, which set oil prices and world markets. Brent crude started the month just under $100 and rose to near-record levels above $110 before a two-week US-Iran ceasefire was announced on April 7 and 8. Oil then fell and stock markets rose, the most followed economic story of the month. After talks in Islamabad collapsed and the United States announced a blockade of Iranian ports, oil rose above $100 again on April 13. When Iran announced the reopening of the strait on April 17, crude fell by up to 15% in a day, but Iran closed it again on April 18. By April 29 Brent had topped $115 amid stalled talks and the continuing blockade.
The strait itself became an economic instrument. Iran set up a permit and fee system for passage, and on April 9 announced tolls of around one dollar per barrel, which could bring in up to $90 billion a year. The European Union rejected the idea, the International Maritime Organization said it would set a dangerous precedent, and President Donald Trump gave conflicting comments. By April 26 ship traffic had fallen to nearly zero.
Inside Iran, the blockade and sanctions squeezed exports. The United States sanctioned a China-based refinery, 40 shippers and 35 individuals and entities, and did not renew the temporary easing of oil sanctions, although reports said at least 34 Iran-linked tankers bypassed the blockade. Iran halted petrochemical exports on April 16 and suspended steel exports until the end of May. Its rial reached a record low on April 29, and its oil storage was reported nearly full.
The effects spread worldwide. US inflation reached a two-year high of 3.3%, the IMF warned of recession risk, and the International Energy Agency called the crisis the biggest energy crisis in history. The EU said its energy import costs rose by 27 billion euros, Germany halved its growth forecast, and BP's quarterly profit more than doubled to $3.2 billion.
by WorldBrief & Maksim Micheliov | AI-generated summary
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