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Iran dismisses US efforts for UN sanctions as currency drops

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Iran dismissed U.S. efforts to restore all U.N. sanctions on the country as mounting economic pressure from Washington pushed the local currency down to its lowest level ever on Sunday.

Iran’s currency dropped to 272,500 to the U.S. dollar at money exchange shops across Tehran.

The rial has lost more than 30% of its value to the dollar since June as sweeping U.S. sanctions on Iran continue to crush its ability to sell oil globally.

Iran’s currency was at 32,000 rials to the dollar at the time of Tehran’s 2015 nuclear deal with world powers, which was signed by the Obama administration but which the Trump administration pulled the U.S. out of.

As the currency plummeted, Iran’s foreign ministry spokesman Saeed Khatibzadeh slammed the Trump administration’s declaration Saturday that all U.N. sanctions against Iran have been reimposed because Tehran is not complying with the nuclear deal.

“Tehran’s message to Washington is clear: return to the international community, return to your commitments and stop bullying so the international community will accept you,” he said.


The White House plans to issue an executive order on Monday spelling out how the U.S. will enforce the restored sanctions, and the State and Treasury departments are expected to outline how foreign individuals and businesses will be penalized for violations
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Tensions are running high between Iran and the U.S., particularly since a U.S. strike in January killed Iranian Revolutionary Guard Gen. Qassem Soleimani in Baghdad, prompting Tehran to retaliate with a ballistic missile strike on Iraqi bases housing American troops.

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