Iran approved the denomination of Riala. The currency loses its value through the UN sanctions

On Sunday, the Parliament of Iran adopted a bill providing for denomination constantly losing the value. The cause of depreciation of this currency are sanctions against Iran restored after 10 years by the UN.

Within a week of resumption of sanctions, the course of the US dollar fell to the lowest level in history. On Sunday, about 1.1 million were paid for the dollar on the Black Market Square – according to pages tracking changes.

According to the text of the Act posted on the parliament website after the denomination of the current 10,000 One would answer one Rial.

The act must still be approved by the Council of the Guardians of the Revolution and signed by President Masuda Pezeszkian.

UN sanctions against Iran, accused of intensively enriching uranium to build a nuclear bomb, are in force from September 28. The procedure for their resumption was initiated in August by France, Great Britain and Germany.

Restrictions were frozen in 2015, when Tehran committed himself to limit his nuclear program. The nuclear agreement (JCPOA) concluded at that time was to limit Iran's work on enriching uranium, but after the US withdrew in 2018, Iran began to depart from the records of the agreement.

According to the International Atomic Energy Agency, Iran has about 440 kg of uranium enriched to 60 percent, which – after enrichment to 90 percent. – would allow the construction of 8-10 atomic bombs. Tehran denies that he at all seeking nuclear weapons, and ensures that the Iranian nuclear program has a peaceful character. According to the 2015 agreement, the degree of enrichment of uranium in the Iranian nuclear program may not exceed 3.67 percent (PAP)

MW/ AKL/