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Trump has his cake and eats it too with sanctions tanking Iran's economy and oil staying low
Trump's withdrawal from the nuclear deal deal has massively isolated Iran and tanked its currency, the rial.
President Donald Trump's administration is due to announce the return of pre-nuclear deal sanctions on Iran on Monday, as well as sanctions on 300 additional entities.
The new measures look poised to slam the country's economy while managing to keep oil prices low, and still stopping Tehran from pursuing nuclear weapons.
Trump already brought back a wide swath of sanctions on the country's financial sector in August, after which the rial fell from 45,000 to the dollar to a current rate of 145,000 per dollar. In response, Iran's government restricted its citizens' access to foreign currencies and banking.
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But the Trump administration will now hit directly at Iran's lifeblood — its oil industry.
Rouhani also promised to protect and even grow its economy by beating the sanctions and continuing to sell oil and courting European countries and firms.
But major companies and have already abandoned Iran. Military analysts who spoke to Business Insider did not find Iran's threats of force credible. While Iran has threatened to return to nuclear production, it hasn't signaled serious consideration to exit the nuclear pact.
Additionally, Iran stands accused of attempted assassinations and terror attacks of Iranian dissidents in Europe, further souring the continent against maintaining ties.
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