Why has Iran’s economy not collapsed under US war pressure?

Tehran, Iran – Millions of people across Iran are struggling for livelihood and survival, but the country’s embattled economy is still far from a state of collapse despite five months of war with the United States.The vast and resource-rich country of more than 92 million people has developed a relatively diversified domestic economy for a major oil exporter, as the authorities over decades leaned on self-sufficiency in the face of harsh economic embargoes and confrontation with the US, Israel and the West.Water-intensive agriculture, manufacturing and services have reduced total reliance on oil, while shadowy oil transfers, cross-border trade, maritime networks and a large informal labour market have helped keep the economy resilient.Still, the population has paid a huge price by having to absorb much of the strain. More than a decade of all-encompassing sanctions, as well as two wars since June last year, nationwide protests during which thousands were killed and several state-imposed internet shutdowns in the past year, have only made it more difficult to earn a living wage and have a future outlook.‘An expensive way to survive’Welfare economist Hadi Kahalzadeh said he defines c...