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Middle East

Rial drop due to Iran policy, sanctions: U.S. Treasury official

U.S. Under Secretary for Terrorism and Financial Intelligence David Cohen talks to the media during a press conference in Rome, Wednesday, Oct. 3, 2012. (AP Photo/Andrew Medichini)

LONDON: The sharp fall in the Iranian rial over the past year is the result of Tehran's management of its economy and of sanctions imposed over its nuclear programme, U.S. Treasury official David Cohen said on Friday.

Cohen, undersecretary for terrorism and financial intelligence, added in remarks on a visit to Britain's Chatham House think tank that Iran had the ability to "relieve the pressure its people are feeling" by resolving concerns over its nuclear work.

Iran has blamed the plunge in the currency on a foreign "conspiracy."

 

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