WethePeopleUS
Member
The idea here is to make the rial essentially unusable outside of Iran.
http://www.bbc.co.uk/news/business-22763075
For the first time, the U.S. has targeted Iran's currency, and imposed a new round of sanctions. These include penalties on anyone facilitating "significant" transactions in the rial or holding significant amounts of the currency outside Iran. A US official said the move would force institutions to dump rial holdings and weaken the currency further.
Meanwhile, White House spokesman Jay Carney said that while the US had been increasing its pressure on Iran, it was still open to a "diplomatic solution that allows Iran to rejoin the community of nations if they meet their obligations".
"However, Iran must understand that time is not unlimited," he said.
This is the ninth set of sanctions that President Barack Obama's administration has imposed against Iran.
The question is, are the sanctions working. Are we going to isolate Iran, similar to how we have done to North Korea..
http://www.bbc.co.uk/news/business-22763075
For the first time, the U.S. has targeted Iran's currency, and imposed a new round of sanctions. These include penalties on anyone facilitating "significant" transactions in the rial or holding significant amounts of the currency outside Iran. A US official said the move would force institutions to dump rial holdings and weaken the currency further.
Meanwhile, White House spokesman Jay Carney said that while the US had been increasing its pressure on Iran, it was still open to a "diplomatic solution that allows Iran to rejoin the community of nations if they meet their obligations".
"However, Iran must understand that time is not unlimited," he said.
This is the ninth set of sanctions that President Barack Obama's administration has imposed against Iran.
The question is, are the sanctions working. Are we going to isolate Iran, similar to how we have done to North Korea..