Over the course of three weeks, Iran’s rial has lost more than a quarter of its value while Iranians are reporting job losses, rising fuel and transportation costs, shortages of vehicle parts, and growing difficulty paying for medicines and everyday necessities.
The deterioration comes as the United States steps up economic pressure on the Islamic regime, seeking to cut it off from revenue and financial networks abroad.
On Aug. 24, the Treasury Department announced its “Economic Outcast” campaign, sanctioning 24 individuals, 48 companies and entities, and six vessels linked to the Iranian regime. The measures also target digital assets and expand efforts to disrupt the networks Tehran uses to sell oil and move money through third countries….