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Iran eases currency rules, hoping to buoy rial ahead of sanctions

06 August 2018

Iranian President Hassan Rouhani stated on Sunday that he would appear at an open session of the parliament to answer questions on his cabinet's economic performance and agenda, as requested by the lawmakers.

Heshmatollah Falahatpisheh, who heads the parliamentary committee on national security and foreign policy, suggested a United States return to the nuclear deal would be needed before Tehran could think of negotiating.

Last month, when talking about Iran's right to the Strait of Hormuz, Rouhani commented that Americans "must understand that war with Iran is the mother of all wars and peace with Iran is the mother of all peace".

"This is just about Iranians' dissatisfaction with their own government, and the President is pretty clear, we want the Iranian people to have a strong voice in who their leadership will be".

On Wednesday, U.S. officials told reporters the naval fleet of Iran's Islamic Revolutionary Guard Corps (IRGC) is planning to use 100 gunboats in the Persian Gulf to practice "swarm" tactics, an exercise that is usually reserved for the fall.

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Trump has proven very generous to U.S. adversaries if they meet in the context of summits, but Iran would have to swallow its pride and some humble pie too if it were to kiss the ring.

The US has set a deadline of 4 November for major buyers of Iranian oil to stop their purchases.


US officials last week said Iran carried out a similar exercise, though Tehran did not immediately acknowledge it.

Chinese Foreign Minister Wang Yi said his nation will work to save the Iranian nuclear deal to ensure Iranian oil will continue to flow through the market, during a meeting with his Iranian counterpart Zarif.

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Trump's whiplash between threats and diplomacy prompted déjà vu for some who saw similarities to how Trump approached North Korea.

Though the U.S. sanctions post-deal will be unilateral and not as strong as the pre-deal UN-imposed sanctions, fear angering the United States, the world's largest economy, will likely scare off Europeans who are otherwise committed to the deal.

Trump became the first USA leader to meet with North Korea's Kim Jong Un, the world's worst human rights violator.

The UK, along with China, Germany, France, Russia and the European Union are negotiating with Iran on preserving the deal.

Ahead of new United States sanctions against Tehran scheduled to kick in on August 4, cars in a number of Iranian provinces, including Sari, stretched along main streets on Thursday night and at gasoline stations over uncertainty about when or if rationing would be implemented.

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Iran eases currency rules, hoping to buoy rial ahead of sanctions