US EditionIran’s rial currency falls to near-record lows on European ‘snapback’ sanctions threat
European nations may activate UN's snapback sanctions after Iran halted International Atomic Energy Agency inspections, risking further economic pressure amid rial's collapse to over 1 million per dollar.
- On Thursday, Iran's rial fell to near-record lows, trading at over 1 million to $1 as France, Germany and the United Kingdom prepare a veto-proof United Nations 'snapback' process.
- France, Germany and the United Kingdom warned Aug. 8 they would pursue snapback by the end of August after Iran halted International Atomic Energy Agency inspections following Israeli strikes.
- Analysts note snapback would carry immediate sanctions freezing Iranian assets and halting arms deals, while Iran's rial plunged to a record low of 1,043,000 rials to $1 in April since the 2015 nuclear deal.
- Iranian officials warned snapback would escalate tensions, likely worsening conflicts with Western nations, while China's major purchases of Iranian crude oil could complicate enforcement if invoked.
- With the Oct. 18 expiry looming, the snapback mechanism pressures European nations to act before that deadline as Russia proposes extending the U.N. resolution and assumes Security Council presidency in October.
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Iran plunged into new crisis as currency drops to near-record low of 0.000001% on Dollar
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Iran's Rial Plunges Amid Renewed Threat of 'Snapback' Sanctions: Economic Turmoil Feared – Archyde
Archyde August 28, 2025 Iran’s Rial Collapses As ‘Snapback’ Sanctions Loom Dubai, united Arab Emirates – Iran’s national currency, the Rial, experienced a dramatic decline Thursday, reaching levels near all-time lows… You can read the full story here: Iran’s Rial Plunges Amid Renewed Threat of ‘Snapback’ Sanctions: Economic Turmoil Feared.
Coverage Details
Total News Sources45
Leaning Left18Leaning Right3Center11Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 34%
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