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POLITICS ·UNITED STATES ·October 25, 2026

Marco Rubio says Iran's economy is "in total and complete freefall" amid Strait of Hormuz dispute

“in total and complete freefall”
— Marco Rubio, Secretary of State

Reported October 25, 2026 by manilatimes.net. Checked word for word against that report.

✦ Summary · October 25, 2026 AI-written summary of the news — not a direct quote

Secretary of State Marco Rubio this month disputed Iran’s ability to govern the Strait of Hormuz and described its economic condition in stark terms, as U.S. Central Command reported helping Gulf countries export 1.5 billion barrels of oil through the waterway since summer despite an Iranian blockade. CENTCOM said Sunday that more than 3,000 commercial vessels had crossed over six months, with over 95% doing so safely; its chief, Adm. Brad Cooper, said main routes were clear of Iranian mines. Iran took over the passage after war began with U.S.-Israeli strikes on Feb. 28 and has required ships to obtain permission, according to the report. The strait normally carries about one-fifth of global oil exports. Rubio said the passage was open and flows were near prewar levels; Kpler data showed September crude exports at prewar levels.

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