How long can Iran hold out?

The US blockade has cut Iran’s financial lifeline and strains are growing in its balance of payments. Estimates of Iran’s accessible FX reserves suggest that these cover no more than three months’ of pre-war imports. So unless the regime seeks concessions from the US to lift the blockade, the economy will have to remain extremely depressed. But ultimately, this comes down to the degree of economic pain that the Iranian regime is willing to bear to achieve its military and geopolitical objectives.