Iran’s Economy Struggling Under U.S. Blockade

It has been over two weeks since the U.S. Navy began a blockade of Iranian ports, and now millions in Iran have been pushed into poverty as the country’s economy crumbles. It also appears the blockade is causing collateral damage back home with oil prices surging to their highest levels in the past four years. over concern of renewed U.S. military strikes and an extension of the blockade. Meanwhile, the United Arab Emirates is leaving OPEC, marking a major shift in global energy politics.

FOX’s Jonathan Savage speaks with Max Meizlish, research fellow at the Foundation for the Defense of Democracies, and previously worked at the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), who says the blockade is working, severely impacting Iran’s economy, but even more can be done to freeze their oil revenue.