Iran’s National Currency CrisisPublished by Ali on September 6, 2018
The devaluation of Iran’s national currency continues to accelerate in what could be a sign of the early effectiveness of the return of American sanctions that had previously been suspended under the 2015 Iran nuclear deal.
After President Donald Trump withdrew from that agreement, it was announced that the sanctions would come back into effect in two groups, following two consecutive 90-day waiting periods.
The first such period ended in August, bringing sanctions on various Iranian import and export markets. The second group of sanctions are set to return in early November, targeting the Iranian oil industry and banking sector, as well as third parties that do business with the Islamic Republic.