The rial is collapsing, the US is tightening the noose – and Iran is defiant
Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated on Thursday that Iran will defeat the United States in a "total economic war," according to the state news agency IRNA. The remarks were made against the backdrop of intensifying American pressure and further deterioration of the country's economic situation, as the Iranian rial reached a historic low, crossing the threshold of two million rials to the dollar.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated on Thursday that Iran will defeat the United States in a "total economic war," according to the state news agency IRNA. The remarks were made against the backdrop of intensifying American pressure and further deterioration of the country's economic situation, as the Iranian rial reached a historic low, crossing the threshold of two million rials to the dollar.
Iran is projecting defiance in the face of economic pressure exerted by the United States. Mohammad Bagher Ghalibaf claimed that Tehran will succeed in overcoming Washington in a "total economic war" after the American administration shifted its focus from military conflict to the application of economic pressure.
At the same time, Ghalibaf attempted to strengthen public confidence in the government as the local currency continues to weaken. According to the data, one US dollar is now worth more than two million Iranian rials.
The news agency IRNA reported his words:
"Supporting the government does not mean ignoring its shortcomings, but rather placing trust in it so that it can better serve the people. The government has taken effective steps to manage the country despite the economic consequences of the war, and is working to address its weaknesses."
The message comes as Washington attempts to increase damage to the Iranian economy and reduce Tehran's ability to generate revenue from oil sales.
US Treasury Secretary Scott Bessent announced earlier this week the start of an "economic pariah operation," signaling a shift in American activity against Iran. This move is intended to deepen the economic isolation of the Islamic Republic through sanctions and harm its oil export industry, a central source of income for Tehran.
The strategy seeks to exert pressure without relying exclusively on military force: to reduce the regime's revenues, hinder its trade with other countries, and exacerbate the difficulties faced by the local economy.
Ghalibaf's statement is significant given the state of the rial. The weakening of the currency means that imported products are becoming more expensive, which could exacerbate economic pressure on households and businesses across the country.
