Iran’s currency falls to a new low as nuclear sanctions squeeze its ailing economy

Wed Dec 03 12:40:26 UTC 2025: Here’s a summary and a news article based on the provided text:

Summary:

The Iranian rial has plummeted to a new record low against the US dollar, reaching 1.2 million to 1. This devaluation is attributed to the pressure of nuclear sanctions, particularly those reimposed after President Trump returned to the White House and restarted his “maximum pressure” campaign. The weak currency is driving up the cost of essential goods, increasing hardship for ordinary Iranians and raising concerns about the government’s ability to maintain infrastructure. The situation is further complicated by stalled negotiations with the US and ongoing tensions with Israel.

News Article:

Iranian Rial Plummets to Record Low Amid Sanctions Pressure

Tehran, Iran – The Iranian rial fell to a new record low of 1.2 million to the U.S. dollar on Wednesday as the nation’s economy continues to struggle under the weight of nuclear sanctions. The currency’s devaluation is further exacerbating economic hardship for ordinary Iranians, driving up the cost of food and other essential goods.

The slide comes as attempts to revive negotiations between Iran and the United States over its nuclear program remain stalled. The situation has raised concerns about the government’s ability to maintain critical infrastructure, particularly given the limited access to foreign currency due to sanctions.

The U.S. sanctions, intensified after President Trump’s return to the White House and his reinstatement of the “maximum pressure” campaign, have significantly impacted Iran’s economy. These measures include targeting firms trading Iranian crude oil, even those offering discounts to China.

The reimposition of UN nuclear sanctions in late September, using the “snapback” mechanism, has further compounded the economic pressure. These sanctions freeze Iranian assets abroad, halt arms deals, and penalize the development of Iran’s ballistic missile program. The rial traded at 32,000 to the dollar at the time of the 2015 nuclear deal.

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