The EU came into effect on July 1, the Iranian oil embargo. Three days ago, the U.S. sanctions on Iran's financial sector also came into effect. The United States and the European Union, which opened a prelude to implementation of a new round of unilateral sanctions against Iran energy and financial sectors.

U.S. President Barack Obama signed in December last year, the U.S. National Defense Authorization Act of 1245 provides that, since June 28, 2012, the country and then through a large number of transactions with the Central Bank of Iran to buy oil from Iran, the United States cut off the Contact all financial institutions of the country and the U.S. banking system.

In addition, the EU foreign ministers meeting in January this year, made a resolution, the provisions of the European Union from July 1, a total ban on Member States to imports from Iran, transshipment of crude oil and refined oil, and Iran's oil trade financing and insurance services.

Analysts here pointed out, the round of sanctions in the United States and the EU to prove safety of the lifeblood of Iran's economy - the energy and the financial sector, or will enable the already hard-hit Iran's economic situation from deteriorating further. Due to the lag effect, the effectiveness of sanctions will be concentrated in the next couple of months to show.

Devaluation of the currency, such as "unbridled horse" Subject to the United States and the European Union the impact of the new round of sanctions against Iran, Iran's foreign exchange market (banks) Rial market exchange rate against the U.S. dollar once again plummeted in the past week, a drop of up to 15%.

Belongs to the private nature of legitimate financial institutions, banks in Iran by Western financial sanctions due to Iran's state-owned banks, it is generally to conduct foreign exchange transactions by banks. According to data provided by Iran's foreign exchange transactions website M esghal of Tehran, the foreign exchange market (banks) on the 3rd Rial against the U.S. dollar closing price of 19,760 rials against the dollar, than a week ago plunged more than 14%. This is also in November last year, Rial against the U.S. dollar plummeted.

In late December last year, Rial against the U.S. dollar appear first crash. The cause of the crash, in addition to the market fears a rumor, but also the West to impose sanctions on Iran's central bank from the market: Iran has been canceled and the UAE (one of Iran's two third-country settlement channel, another channel is Turkish). import orders, the trade relations between the two countries temporarily interrupted. January 2 this year by U.S. President Barack Obama signed the defense budget on December 31, the additional impact of the sanctions on Iran's financial sector, the Iranian currency plummeted in the second.

Although the Iranian government strongly denied the currency plummeted and Western sanctions related, and that due to Rial devaluation of Iran's economic ills, but most people think, which is closely related to the Western countries, the sanctions against Iran. Many economists to describe the depreciation of the currency in Iran is like a wild horse that. Some analysts predict that if Iran and the six-nation nuclear negotiations fail to achieve substantial breakthroughs in the powerful Western sanctions under the pressure of this year Riyal and the U.S. dollar market exchange rate will exceed 25,000 riyals, against $ 1, and do not rule out the year rial market exchange rate exceeded 30 000 rials per U.S. dollar possibility.

Hanging above the foreign exchange market in Iran, as well as a "Damocles sword of. At present, published by the Central Bank of Iran Rial and the official exchange rate of only 12260 riyals per U.S. dollar compared to the beginning of the year almost unchanged. According to the July 3 closing price, the official exchange rate and the spread of market exchange rates has been expanded to more than 62%. In September last year, the difference between the two has remained at between 5% to 10%.



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