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

Outdated and underfunded energy sector's problems further compounded by depleted gas reserves caused by attack on two major pipelines back in February

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.