Iran’s currency plunges to record low as US sanctions loom

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Iran’s currency has plunged to another record low, dropping past 100,000 rials to the US dollar, as Iranians brace for August 7 when the United Statesis due to reimpose the first batch of sanctions on their economy.

In May, Washington pulled out of a landmark 2015 deal between world powers and Tehran under which international sanctions on Iran were lifted in return for curbs on its nuclear programme.

The US government decided to reimpose sanctions on Iran upon its withdrawal, accusing it of posing a security threat, and has told countries they must halt all imports of Iranian oil from November 4 or face US financial measures…

Read more : Aljazeera, 29.07.2018