Iran’s currency, the rial, has reached a record low against the dollar as the US prepares to enact further economic sanctions and maintains a naval blockade. The rial’s weakening comes after almost six months of ongoing conflict and a mounting US campaign to cripple Iran’s economy, according to reports. Washington intends the new sanctions to add further pressure to an economy already strained by existing restrictions.
Left-leaning and right-leaning coverage both report the currency’s decline and the impending sanctions, though neither detail the specifics of the new measures. The timing of the currency’s fall coincides with the US preparing to announce these additional sanctions. It remains unsettled how effective the new sanctions will be, given the existing economic pressures and the ongoing conflict.
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