As US prepares sanctions, Iran arrests former forex boss after currency collapse

The bloc sees the deal as an important element of international security

But they denied security forces were involved, Iranian news agencies reported. "Because of some internal problems that Saudi Arabia is facing and certain foreign issues, Mr. Trump's election (as the United States president) and the relations he has established with Saudi Arabia, and Trump's analyses of Iran, they (Saudis) are somehow under the illusion that they may win more concessions from Iran through patience".

Iran will ease foreign exchange rules in a bid to halt a collapse of the rial currency, which has lost half its value since April due to fears about the return of US sanctions, according to state media reports on Sunday.

With US sanctions against Iran officially going back into place on August 6, the Iranian government is scrambling to take some last minute measures to shore up their economy, and particularly their currency, before the sanctions start to hit.

Protests broke out on Sunday for a sixth night in cities including Kazeroon in the south, according to social media. "Perhaps that will be the path the Iranians choose to move down with".

Heiko Maas said the lifting of nuclear-related sanctions is an essential part of the deal
Heiko Maas said the lifting of nuclear-related sanctions is an essential part of the deal

Washington's withdrawal from the landmark Iran nuclear deal was criticized across the world.

A deepening of Iran's economic crisis could also lead to an influx of refugees and migrants into Europe like that seen on the heels of the Syrian conflict.

Trump pulled the United States out of the deal in May, saying Iran was not living up to the spirit of the accord and vowed to reimpose sanctions.

On Monday, trade sanctions resume on the import of Iranian products, such as carpets and pistachios.

Oil prices edge up after Saudi output dips, US drilling stalls
Markets also anticipated an announcement from Washington later on Monday on renewed USA sanctions against major oil exporter Iran. China has however agreed it will not increase oil imports from Iran, in a move which would directly challenge the U.S. blockade.


"Based on existing agreements, five new ATR aircraft will land at Mehrabad Airport at 9am (04:30 GMT) tomorrow [Sunday]", the national carrier said on its Telegram channel.

Sanctions on Iran's oil industry and central bank are set to be restored on November 4.

The Associated Press reported that a shipment of five new ATR72-600 planes arrived in Tehran as part of a deal with a French-Italian manufacturer for 20 aircraft.

Increased US hostility has also driven a run on Iran's currency, which has lost around two-thirds of its value in six months.

Donald Trump endorses Republican nominee for Tennessee governor Bill Lee
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Iran says the sanctions are endangering lives by blocking the sale of new planes and spare parts for its ageing fleets.

It is not yet clear how all this will affect ordinary Iranians, but a European diplomat in Tehran who monitors the economy said prices of basic foods were already creeping up. "Exporters would be allowed to sell hard currency to importers, and there would be no limit on bringing currency or gold into the country". The first round of financial sanctions should return Monday.

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