Iranian rial took another dive in value against the dollar

On Tuesday, U.S. President Donald Trump spoke at the UN General Assembly. He called for the nations around the world to support him in his efforts to isolate the Iranian regime and hold them to account for their actions throughout the region. Trump pointed to their military actions and support of proxy groups and militias.

One of the focuses of his speech was Syria, noting that it was critical to reinvigorate the UN peace process for the nation. Yet, he also noted that the solution to the humanitarian crisis in Syria also needs to address Iran’s role in the civil war.

“Iran’s leaders sow chaos, death, and destruction. They do not respect their neighbors or borders, or the sovereign rights of nations. Instead, Iran’s leaders plunder the nation’s resources to enrich themselves and to spread mayhem across the Middle East and far beyond,” said Trump.

He also said that the Syrian regime under Assad has committed butchery and it was enabled by Russia and Iran.

Appeasement towards Iran

The longstanding feud between Trump and the Iranian regime stems from a shift in U.S. policy towards the regime. While many nations continue to follow a rule of appeasement towards Iran in hopes of keeping its nuclear ambitions in check, the U.S. under Trump has taken a hardline stance.

Despite the claims by Rouhani that the U.S. is politically isolated, after Rouhani’s UN speech, the Iranian rial took another dive in value against the dollar amid the deterioration of the Iranian economic situation. A dollar is being offered for as much as 190,000 rials, according to the Tasnim news agency. That means the rial has lost approximately 75% of its value since the start of the year.

The Iranian people have also continued their daily protests throughout the country, targeting the corruption and mismanagement of Iranian resources by the regime. Crude oil exports are also declining, as countries prepare for the sanctions to come into effect in November.

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