America More economic on Iran by Restrictions Iran’s currency, the rial, continues to depreciate in the wake of the possible downturn. Iran’s currency, the rial, has hit an all-time low. One dollar is worth 2,72,500 Iranian rials. In other words, Iran has to pay 2,72,500 riyals for a dollar. Iran has lost 30 percent of its value against the dollar since June.
Fear in West Asia over claims of nuclear program
Iran cannot sell its oil on the world market due to US economic sanctions on Iran. Earlier in 2015, Iran’s currency fell to 32,000 against the dollar. A top US official’s claims about Iran’s nuclear program have raised fears in West Asia. A U.S. official has said Iran could build a nuclear weapon by the end of this year.
US prepares to impose new economic sanctions on Tehran
In light of the new threat posed by Iran, the United States is preparing to impose new economic sanctions on Tehran. Iran is building long-range missiles with the help of North Korea. US President Donald Trump has forged Israel’s friendship with the UAE and Bahrain. The UAE-Bahrain and Israel friendship has increased the number of countries opposed to Iran. Trump hopes the Israel-backed vote bank will vote for him in the next election.