Middle East live: Iran warns of a harsh response to anticipated US sanctions
Summary
Iran warned it will respond strongly to new U.S. sanctions expected soon. The country’s currency, the rial, fell to a record low as the economy suffers from war impacts and previous sanctions.Key Facts
- Iran’s foreign ministry said it would react harshly to expanded U.S. sanctions, including those targeting nations helping the U.S.
- The U.S. plans to announce tough new sanctions against Iran to increase pressure on its economy and activities.
- President Donald Trump stated on social media that Iran is "collapsing" ahead of the sanctions announcement.
- Iran’s currency, the rial, dropped to around 2.02 million to one U.S. dollar in open markets, a record low.
- Iran’s Central Bank governor called the currency’s weakness temporary and blamed U.S. political propaganda for economic difficulties.
- Iran faces ongoing economic challenges due to war, inflation, and a naval blockade.
- Iranian officials warned that sanctions will not bring peace and any escalation will have serious consequences.
- Tensions remain high regarding control and security of the Strait of Hormuz, a key shipping route.
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