Iran calls U.S. sanctions 'act of war' as rial hits record low

fortune.com

Iran warned that expanded U.S. sanctions constitute an "act of war," as its currency hit a record low Monday ahead of Washington's expected announcement. Tehran's security chief said any country supporting the sanctions would face consequences. Iran demands lifting the U.S. naval blockade, withdrawing U.S. forces, and reparations to reopen the Strait of Hormuz, which carried a fifth of global oil before the war. Sanctions have historically raised prices in Iran, though its economy adapted through new trading partners. Separately, Israeli and Syrian officials met in Jordan to defuse tensions after an Israeli airstrike, while Israel reported killing another Hamas militant.


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