The US administration has announced a series of sanctions against 18 banks and financial institutions, aimed at cutting off the flow of foreign currency to the country • Europe fears a humanitarian crisis following the move • The Iranian currency is at an unprecedented low and unemployment in the Islamic Republic is rising
Iranian currency crashes, money changer in Tehran // Photo: AFP
The administration of the President of the United States, Donald Trump, announced today (Thursday) the imposition of new sanctions on the Iranian economy during a lightning strike designed to bring forward the elections and bring maximum pressure on Iran's economy even before the elections.
The Washington Post reported that the new package of sanctions is intended to hurt foreign exchange flows to Iran and includes sanctions on 18 banks and financial institutions that were not previously harmed by previous sanctions.
Finance Minister Steve Menuhin commented on the package of sanctions, saying: "Our main goal is to prevent the illegal leakage of dollars into Iran."
Europe has sharply criticized the new sanctions, arguing that they would fatally damage the humanitarian situation of the population in a country suffering from the collapse of the Iranian economy following US sanctions and the corona plague.
Finance Minister Menuhin also referred to the whispers and said: "Even after the actions we took today, the transfer of humanitarian aid to Iran will be possible, in order to support the Iranian people."