Iranian Currency Falls to Record Low

The dollar was selling for as much as 447,000 rials on Iran's unofficial market on Saturday
The dollar was selling for as much as 447,000 rials on Iran's unofficial market on Saturday
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Iranian Currency Falls to Record Low

The dollar was selling for as much as 447,000 rials on Iran's unofficial market on Saturday
The dollar was selling for as much as 447,000 rials on Iran's unofficial market on Saturday

Iran's troubled currency fell to a record low against the US dollar on Saturday amid the country's increasing isolation and possible Europe Union sanctions against Tehran's Revolutionary Guards or some of its members.

Ties between the EU and Tehran have deteriorated in recent months as efforts to revive nuclear talks have stalled. Iran has detained several European nationals and the bloc has become increasingly critical of the violent treatment of protesters and the use of executions.

The EU is discussing a fourth round of sanctions against Iran and diplomatic sources have said members of the Revolutionary Guards will be added to the bloc's sanctions list next week. But some EU member states want to go further and classify the Guards as a whole as a terrorist organization, Reuters reported.

The dollar was selling for as much as 447,000 rials on Iran's unofficial market on Saturday, compared with 430,500 the previous day, according to the foreign exchange site Bonbast.com.

The rial has lost 29% of its value since nationwide protests following the death in police custody of a 22-year-old Kurdish Iranian woman, Mahsa Amini, on Sept. 16.



Top US, Chinese Military Brass Hold First Call to Stabilize Ties 

A Chinese naval Z-9 helicopter prepares to land aboard the People's Liberation Army (Navy) frigate CNS Huangshan (FFG-570) as the ship conducts a series of maneuvers and exchanges with the Arleigh Burke-class guided-missile destroyer USS Sterett (DDG 104) in the South China Sea June 16, 2017. (US Navy photo by Mass Communication Specialist 1st Class Byron C. Linder/Handout via Reuters)
A Chinese naval Z-9 helicopter prepares to land aboard the People's Liberation Army (Navy) frigate CNS Huangshan (FFG-570) as the ship conducts a series of maneuvers and exchanges with the Arleigh Burke-class guided-missile destroyer USS Sterett (DDG 104) in the South China Sea June 16, 2017. (US Navy photo by Mass Communication Specialist 1st Class Byron C. Linder/Handout via Reuters)
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Top US, Chinese Military Brass Hold First Call to Stabilize Ties 

A Chinese naval Z-9 helicopter prepares to land aboard the People's Liberation Army (Navy) frigate CNS Huangshan (FFG-570) as the ship conducts a series of maneuvers and exchanges with the Arleigh Burke-class guided-missile destroyer USS Sterett (DDG 104) in the South China Sea June 16, 2017. (US Navy photo by Mass Communication Specialist 1st Class Byron C. Linder/Handout via Reuters)
A Chinese naval Z-9 helicopter prepares to land aboard the People's Liberation Army (Navy) frigate CNS Huangshan (FFG-570) as the ship conducts a series of maneuvers and exchanges with the Arleigh Burke-class guided-missile destroyer USS Sterett (DDG 104) in the South China Sea June 16, 2017. (US Navy photo by Mass Communication Specialist 1st Class Byron C. Linder/Handout via Reuters)

The United States and China held theater-level commander talks for the first time on Tuesday, Chinese authorities said, amid efforts to stabilize military ties and avoid misunderstandings, especially in regional hot spots such as the South China Sea.

Washington seeks to open new channels of regular military communication with Beijing since ties sank to a historic low after the United States downed a suspected Chinese surveillance balloon last year.

Admiral Sam Paparo, head of the US Indo-Pacific Command, held a video telephone call with his counterpart Wu Yanan of the Southern Theater Command of the People's Liberation Army (PLA).

The US Indo-Pacific Command's areas of responsibility include the South China Sea and the Taiwan Strait, two hot spots for regional tension that are also flashpoints in US-China bilateral ties.

Both sides had an "in depth exchange of views on issues of common concern," the Chinese defense ministry said in a readout.

Paparo urged the PLA "to reconsider its use of dangerous, coercive, and potentially escalatory tactics in the South China Sea and beyond", the Indo-Pacific Command said in a statement that described the exchange as "constructive and respectful".

He also stressed the importance of continued talks to clarify intent and reduce the risk of misperception or miscalculation.

The call followed a meeting in Beijing last month between US National Security Adviser Jake Sullivan and Chinese leader Xi Jinping's leading military adviser, at which the talks were agreed.

US and Chinese troops were also taking part in large-scale military exercises led by the Brazilian Armed Forces this week in the Brazilian city of Formosa in the state of Goiás.

American and Chinese troops had not trained side by side since 2016, when Beijing participated in the Rim of the Pacific Exercise, or Rimpac, led by the US Indo-Pacific Command.

Most two-way military engagements between the US and China were suspended for almost two years after Nancy Pelosi, then speaker of the US House of Representatives, visited Taiwan in August 2022.

"I certainly worry about an unintended conflict between our military forces, an accident, an accidental collision," Nicholas Burns, the US ambassador to China, told the magazine Foreign Policy in an online interview.

Later this week, the United States plans to send a senior Pentagon official to a major security forum in China.