Iranian riyal records its lowest decline after reinstatement of sanctions

The Iranian riyal fell in trading today, to its lowest level after Washington activated the "trigger mechanism" and returned all sanctions on Iran.

The United States activated the "trigger mechanism" and reinstated all sanctions on Iran, as US Secretary of State Mike Pompeo confirmed, on Saturday, that all UN sanctions on Iran will be implemented, confirming that additional measures will soon be announced to enhance the implementation of sanctions.

The Iranian currency fell to 272,500 against the US dollar in exchange stores across Tehran today, as it lost more than 30% of its value against the dollar since June with the continuation of comprehensive US sanctions on Iran, which targeted its ability to sell oil globally.

The US Secretary of State made it clear that Washington is re-imposing sanctions to exert maximum financial pressure on the Iranian regime, stressing that the maximum pressure on Tehran will continue until it stops chaos and bloodshed.

He pointed out that the Trump administration has always realized that the Iranian regime is the biggest threat to peace in the world, noting that by re-imposing sanctions, the world will be safer.

Tensions have escalated between Iran and the United States, especially since the American strike in January that killed Qassem Soleimani in Baghdad, who is accused of carrying out "terrorist operations and supporting groups that destabilize the region."


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