Iran’s President Rejected US Efforts, Local Currency At Low Level
Iran’s President rejected US efforts, the local currency reached the minimum level. Iran’s ability to sell oil globally has declined due to US sanctions. Because of this, the riyal has lost 30 percent against the dollar.
Due to the economic pressure, the President of Iran has rejected all efforts by the US for UN bans. The country’s local currency reached its lowest level on Sunday.
Let us tell you that US Secretary of State Mike Pompeo announced the reinstatement of U.N. sanctions on Iran during the historic 75th session of the United Nations.
Iran’s ability to sell oil globally has declined due to US sanctions. Due to this, the local currency riyal of the country has registered a decline of 30 percent against the dollar. At the time of Tehran’s nuclear deal with world powers during the Obama administration’s tenure in 2015, the riyal was valued at 32,000 against the dollar.
At present, after the sharp decline in the currency, it has reached 2,72,500 against the US dollar. This means 2,72,50 riyals is now being received in Iran for one dollar.
US Secretary of State Mike Ponpio said during the announcement of the reinstatement of UN sanctions that the US had to take the decision that Iran failed to execute the ‘Joint Comprehensive Action Plan’
. At the same time, the Security Council has not been able to pursue the UN arms embargo applicable to Iran for 13 years. He said that the world will be more secure with this decision in America.
At the same time, the remaining member countries of the Security Council have refused to accept the US decision. They say that after Iran pulled out of the nuclear deal in 2018, the US has lost the legal basis for making such decisions.
The Iranian foreign minister said the same thing. Said that the American move is meaningless, which has no legal basis and effect. This is completely unacceptable. Britain, France, and Germany have also written to the President of the Security Council, saying that the US declaration has no legal effect or obligation.
