Axios, in a report citing five signs of the worsening Iranian economy, wrote that Donald Trump, the U.S. president, more than six months after the start of the war has intensified economic pressure on the Islamic Republic to force its leaders to surrender.

According to Axios, the fall in the value of the rial, severe inflation, increased hardships, reduced oil exports, and the loss of jobs have put Iran’s economy at risk of a deep recession. The value of the rial has fallen by about 22% compared with before the war, and the International Monetary Fund has forecast inflation for 2026 at 68.9%.

The U.S. blockade has also severely limited oil exports and one of the Islamic Republic’s main sources of revenue. The International Monetary Fund now predicts that Iran’s economy will shrink by 5.4% this year.

Axios wrote that economic pressures could, within a few months, threaten the Islamic Republic’s ability to continue the war and maintain internal stability. However, no signs of Tehran’s surrender have yet been seen, and some experts have warned that the Islamic Republic may resort to military action again before accepting the United States’ demands.