Tehran (Iran): Iran’s President Hassan Ruhani has rejected US efforts to reinstate all Embargo of the United Nations. Iran’s local currency reached an all-time low on Sunday due to increased financial pressure from Washington.
The price of Iran’s currency rial fell to 2,72,500 against a US dollar at currency exchange shops in Tehran. Since June, the price of the riyal has fallen by more than 30 percent against the dollar because Iran is not able to sell its oil globally due to the US embargo. At the time of Iran’s agreement with global powers in 2015, one dollar was equal to 32,000 riyals. The agreement was signed by the then US President Barack Obama administration, but President Donald Trump pulled America out of the deal.
With the currency price falling, Iran’s President Hassan Rouhani has condemned the Trump administration’s Saturday announcement that all UN sanctions against Iran are being re-enforced because Iran does not comply with the nuclear deal Has been doing. Rouhani said in a cabinet meeting on Sunday, “If America is showing bullying … and if it really does anything in practice then it will have to face our strong reactions.”
Rouhani said that Iran would withdraw from the deal if the rest of the members who signed the agreement fulfill their obligations as selling oil is a major concern for Iran. The United States’ move to reimpose sanctions has been termed illegal by most countries of the world and there has been a huge uproar in this global body ahead of the United Nations General Assembly meeting this week.
