(Reuters) – Iran, bracing for a possible re-imposition of incoming U.S. president Donald Trump’s “maximum pressure” policy, said on Saturday that 2025 would be an important year for its nuclear issue.
Trump in 2018 reneged on a deal struck by his predecessor Barack Obama in 2015 in which Iran agreed to curb uranium enrichment, which can yield material for nuclear weapons, in return for the relaxation of U.S. and U.N. economic sanctions.
“2025 will be an important year regarding Iran’s nuclear issue,” Foreign Minister Abbas Araqchi told reporters in Beijing, adding in remarks aired by Iran’s state TV that he had discussed the issue in talks with his Chinese counterpart.
He did not mention Trump by name, however, or spell out how the year might be significant.
Iranian leaders’ main concern may be that Trump could empower Israeli Prime Minister Benjamin Netanyahu to attack Iran’s nuclear sites, while further tightening U.S. sanctions on its crucial oil industry.
The Iranian rial on Saturday hit a new all-time low against the U.S. dollar amid uncertainty about Trump’s arrival in the White House on Jan. 20.
The rial plunged to 820,500 to the dollar on the unofficial market, compared to 808,500 rials on Friday, according to Bonbast.com, which reports exchange rates. The bazar360.com website also said the dollar was being sold for about 820,500 rials.
Also facing an inflation rate officially put at about 35%, Iranians seeking to shelter their savings have been buying dollars, other hard currencies, gold or cryptocurrencies, and the rial has dropped about 18% in all since Trump was elected in November.
This post is originally published on INVESTING.
