Iran Says Decline in Rial Not Related to New U.S. Sanctions

Iranian Foreign Ministry spokesman Ramin Mehmanparast said the decline in the value of Iran’s rial against the dollar has nothing to do with the new sanctions instituted by the U.S. on Iran’s central bank.

The sanctions have yet to be implemented and Iran does not have banking transactions with the U.S. or Britain, Mehmanparast said in Tehran today, according to state TV’s news website.

U.S. President Barack Obama on Dec. 31 signed into law measures that deny access to the U.S. financial system to any foreign bank that conducts business with the Central Bank of Iran.

To contact the reporter on this story: Steve Bryant in Ankara at sbryant5@bloomberg.net

To contact the editor responsible for this story: Louis Meixler at lmeixler@bloomberg.net.

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