Forex
US Imposes New Sanctions on Iran Amid Record Low Currency Value
Treasury Secretary Scott Bessent unveiled a new package of economic sanctions on Iran, calling it an 'economic D-Day'.
The move comes as Iran's rial has hit a record low against the US dollar, falling to about 2.02 million per dollar in informal currency markets.
The US administration has been warning countries of an 'economic D-Day' and is now expanding categories of 'Iran-related conduct' it might sanction in the future.
Bessent said the U.S. would launch an 'economic onslaught' targeting third-party countries that provide financial lifelines to Iran's regime, with the goal of giving a final warning to sever business ties with Tehran.