Iran Vows to Overcome US Economic Pressure as Rial Hits Historic Low

Iranian Parliament Speaker Mohammad Bagher Ghalibaf declared that Iran will prevail over the United States in a "comprehensive economic war," amid escalating US sanctions and a historic collapse of the Iranian rial. The local currency plunged to an unprecedented low, with over two million rials now equivalent to one US dollar.

Ghalibaf's remarks came as the US Treasury Secretary Scott Bessant announced a new "economic isolation operation" aimed at deepening Tehran's economic isolation by targeting its oil export industry, a critical revenue source for Iran. This strategy marks a shift from military confrontation to intensified economic pressure, seeking to reduce the regime's income and complicate its trade with other countries.

Despite the economic hardships, Ghalibaf urged public confidence in the Iranian government, emphasizing that supporting the administration does not mean ignoring its flaws but trusting it to better serve the people. He noted that the government has taken effective steps to manage the country despite the economic consequences of ongoing conflicts and is working to address its weaknesses.

The sharp depreciation of the rial increases the cost of imported goods, exacerbating economic difficulties for Iranian households and businesses. The US sanctions campaign aims to further strain Iran's economy by cutting off vital oil revenues and restricting trade, intensifying the financial pressure on the Islamic Republic.

Summary: Iranian Parliament Speaker Mohammad Bagher Ghalibaf vowed to overcome US economic sanctions as the rial fell to a historic low, while the US launched a new operation to isolate Iran economically by targeting its oil exports.