Iran's economic crisis continues to deepen after six months of war and mounting U.S. pressure, with its currency hitting a record low, inflation approaching 70% and oil revenues sharply reduced as President Donald Trump intensifies efforts to isolate Tehran.
The rial fell to about 2.02 million to the U.S. dollar on Monday, compared with roughly 1.65 million immediately before the war, according to the Associated Press. Treasury Secretary Scott Bessent also announced sanctions against nearly 60 Iran-linked individuals, entities and vessels and warned foreign governments and companies that continuing financial ties with Tehran could expose them to U.S. penalties.
