Iran's rial currency hits new record low as US prepares to announce more sanctions

Iran’s rial currency reached a record low amid preparation for new U.S. sanctions described as an “economic D-Day.” The economy faces severe pressure from previous sanctions, inflation, and ongoing conflict. Geopolitically, Iran maintains control over key shipping routes through the Strait of Hormuz while regional powers like Oman and the UAE are attempting to negotiate joint management plans or suspending trade.