US sanctions pressurise Iran

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By Louise Miner
US sanctions pressurise Iran

Following the massive protests in Tehran, the Iranian President Hassan Rouhani says America will fail to defeat the Iranian nation with economic pressure.

Hassan Rouhani, Iran's president says, "As always, America wants to break up the power, glory of the Islamic Republic of Iran and grandeur of the system and the nation with a new method."

Protests began in Iran’s capital on Sunday, with shop owners at the Grand Bazaar shutting their doors to express their anger at the rising prices and the plummeting value of Iran's currency, the rial.

Since the U.S. withdrawal from the Iranian nuclear deal on May 8, the rial has lost more than 40 percent of its value.

Many expect greater pain in the coming months when the new sanctions take effect.

In August the US will re-impose curbs on Iran’s ability to purchase US dollars, as well as any global trading in Iran’s gold, coal, steel, cars, currency and debt.

Later in the year Washington will sanction the Islamic republic’s oil and energy exports, shipping and ports, and central bank dealings.

Moreover, the United States said on Tuesday that it will impose sanctions against all importers of Iranian oil by Nov. 4,

With the Iranian economy set to deteriorate further the protest movement might pick up strength.