Iranian Rial Crashes as US Unleashes Economic D-Day Sanctions

The Iranian rial plummeted to a record low on Monday as the US prepares to impose what it calls 'economic D-Day' sanctions against Iran. The currency dropped to an alarming 2 million rials to the US dollar.

US Treasury Secretary Scott Bessent warned that the measures would be the 'greatest financial offensive ever marshaled against an adversary'. He stated that their objective is to sever every economic lifeline that sustains the Iranian regime until Tehran stands alone.

Ahead of Monday's announcement, Iran has already issued a warning that it could view the actions as an act of war. It remains unclear how Tehran will respond to the impending sanctions.