We are facing very dire imbalances in gas, electricity, energy, water, money and environment,” said President Masoud Pezeshkian in a televised address.

The Iranian rial has fallen to its lowest level in history, losing more than 10% of its value since Donald Trump won the U.S. presidential election in November.

After weeks of increasingly severe blackouts caused by massive natural gas shortages in Iran, the state power company warned manufacturers on Friday that they need to brace for power cuts that could last weeks and cost billions of dollars.

The report cited multiple reasons for the situation, among which were the sanctions imposed on the Islamic Republic and Israel's strike on Iran.