Economics
Iran's Rial Tumbles Ahead of U.S. Sanctions, Dozens Arrested
- Authorities round up nearly 30 people accused of profiteering
- First phase of sanctions scheduled to take effect on Aug. 6
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Iran’s rial tumbled to another historic low, resisting government efforts to shore up the economy as the restoration of U.S. sanctions looms.
In an effort to signal they’re taking action to fight profiteering and cushion the blow of the U.S. economic offensive, authorities have rounded up more than two dozen merchants who they say exploited government currency measures for personal gain.