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Iranian Currency Reaches All-Time Low Amid US 'Maximum Pressure' Strategy

Iran's rial plunges to a record low as the US resumes its 'maximum pressure' strategy, focusing on Tehran's oil exports and foreign aid financing.
On Wednesday, Iran's currency, the rial, plummeted to an unprecedented low of 850,000 rials against the US dollar, following a new directive from US President Donald Trump to renew the 'maximum pressure' campaign on Tehran.

This initiative involves stopping Iran’s oil exports and reinstating UN sanctions, although Trump also expressed interest in a possible agreement with Iran.

Trump's statement has garnered considerable attention from Iranian state media, with some outlets applauding the suspension of foreign aid and moves to reform or abolish the US Agency for International Development (USAID).

While certain groups received this news positively, average Iranians are worried about the broader consequences of the policy.

Maryam Faraji, a 27-year-old waitress in Tehran, pointed out that US actions might empower hard-liners within Iran, who could perceive a reduced international obligation to temper domestic oppression.

The state-operated IRNA news agency reported that US reductions in funding for foreign-based opposition might affect the relationship between Tehran and Washington.

The conservative newspaper Hamshhari reflected this viewpoint, labeling Iranian opposition figures as 'counterrevolutionaries' who had previously welcomed Trump’s election but are now taken aback by the abrupt financial cuts.

Even reformist media outlets, such as Hammihan, acknowledged the political implications of these funding cuts, which could shift the balance of Iran’s opposition.

Esmail Bagahei, spokesperson for Iran’s Foreign Ministry, stressed that these financial resources were not donations but rather compensations for services provided by opposition groups.

It remains uncertain how these modifications will impact US funding for Iranian civil society organizations and opposition activists, particularly through the Near East Regional Democracy Fund (NERD), established in response to the 2009 Green Movement protests.

The extent of these cuts could affect the support available to Iranian opposition groups abroad.
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