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Iran Currency Slips to New Lows amid US, Europe Tensions

Iranian flags flutter as the Milad Tower is covered in smog following the increase in air pollution in Tehran, Iran December 8, 2024. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Iranian flags flutter as the Milad Tower is covered in smog following the increase in air pollution in Tehran, Iran December 8, 2024. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
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Iran Currency Slips to New Lows amid US, Europe Tensions

Iranian flags flutter as the Milad Tower is covered in smog following the increase in air pollution in Tehran, Iran December 8, 2024. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Iranian flags flutter as the Milad Tower is covered in smog following the increase in air pollution in Tehran, Iran December 8, 2024. Majid Asgaripour/WANA (West Asia News Agency) via Reuters

The Iranian currency extended its fall on Saturday, hitting a new all-time low against the US dollar amid uncertainties about Donald Trump's imminent arrival in the White House and tensions with the West over Tehran's nuclear program.

The rial plunged to 756,000 to the dollar on the unofficial market on Saturday, compared to 741,500 rials on Friday, according to Bonbast.com, which reports exchange rates. The bazar360.com website said the dollar was being sold for about 755,000 rials.

Facing an official inflation rate of about 35%, Iranians seeking safe havens for their savings have been buying dollars, other hard currencies, gold or cryptocurrencies, suggesting further headwinds for the rial.

The dollar has been gaining against the rial since trading around 690,000 rials in early November amid concerns that once inaugurated in January, Trump would re-impose his "maximum pressure" policy against Iran with tougher sanctions and empower Israel to strike Iranian nuclear sites.

Iran's currency again declined after the board of governors of the UN nuclear agency IAEA passed a European-proposed resolution against Tehran - increasing the risk of new sanctions - and following the downfall of Syria's President Bashar al Assad, a long-time ally of Tehran.

Trump in 2018 reneged on a nuclear deal struck by his predecessor Barack Obama in 2015 and re-imposed US economic sanctions on Iran that had been relaxed. The deal had limited Iran's ability to enrich uranium, a process that can yield fissile material for nuclear weapons.

Iran's rial has lost more than 90% of its value since the sanctions were re-imposed in 2018.

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Satellite Imagery Shows ‘Recent Activity’ at Iran Nuclear Facility

An inspector of the International Atomic Energy Agency sets up surveillance equipment at a uranium conversion facility in Iran in 2005. Photograph: Mehdi Ghasemi/AP
An inspector of the International Atomic Energy Agency sets up surveillance equipment at a uranium conversion facility in Iran in 2005. Photograph: Mehdi Ghasemi/AP
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Satellite Imagery Shows ‘Recent Activity’ at Iran Nuclear Facility

An inspector of the International Atomic Energy Agency sets up surveillance equipment at a uranium conversion facility in Iran in 2005. Photograph: Mehdi Ghasemi/AP
An inspector of the International Atomic Energy Agency sets up surveillance equipment at a uranium conversion facility in Iran in 2005. Photograph: Mehdi Ghasemi/AP

New satellite imagery shows recent activity at the Natanz nuclear facility that was damaged during June's 12-day war with Israel, according to the US-based Institute for Science and International Security (ISIS).

During the June conflict, the IAEA confirmed Israeli strikes hit Iran's Natanz underground enrichment plant.

The think tank said the satellite imagery from December 13 show panels placed on top of the remaining anti-drone structure at the Pilot Fuel Enrichment Plant (PFEP), providing cover for the damaged facility.

It suggested the new covering allows Iran to examine or retrieve materials from the rubble while limiting external observation.

The Natanz uranium enrichment facility, located some 250 km south of the Iranian capital Tehran, is one of Iran's most important and most controversial nuclear facilities in the Middle East.

Although the facility “likely held several kilograms of highly enriched uranium,” ISIS stressed that such material is “not negligible” in the broader context of Iran’s nuclear capabilities.

While PFEP shows renewed activity, ISIS said it has not observed similar signs at other major nuclear sites, including the underground Fordow facility also damaged in June by airstrikes.

Inspections
On December 15, IAEA chief Rafael Grossi has reiterated that Iran must allow inspectors access to the three key nuclear facilities that enrich uranium and were hit by the US and Israeli airstrikes last June.

Speaking to RIA Novosti, Grossi said the agency’s activities in Iran are very limited. “We are only allowed to access sites that were not hit.”

In October, the head of the UN nuclear watchdog told AP that Iran does not appear to be actively enriching uranium but that the agency has recently detected renewed movement at the country’s nuclear sites.

Grossi said that despite being unable to fully access Iranian nuclear sites, inspectors have not seen any activity via satellite to indicate that Tehran has accelerated its production of uranium enriched beyond what it had compiled before the 12-day war with Israel in June.

“However, the nuclear material enriched at 60% is still in Iran,” Grossi said in an interview at the United Nations headquarters in New York.

“And this is one of the points we are discussing because we need to go back there and to confirm that the material is there and it’s not being diverted to any other use,” he added, “This is very, very important.”

Iran’s Foreign Minister Abbas Araghchi said on December 8 that resuming the agency’s inspections is currently not possible because “there is no protocol or guideline” for inspecting facilities he described as “peaceful.”

ISIS reported on October 3 that new satellite imagery shows that Iran is ongoing construction efforts at a mountainous area just south of the Natanz enrichment site known as Kuh-e Kolang Gaz La, or Pickaxe Mountain.

On Sept. 26, The Washington Post said according to a review of satellite imagery and independent analysis, Iran has increased construction at a mysterious underground site in the months since the US and Israel pummeled its main nuclear facilities, suggesting Tehran has not entirely ceased work on its suspected weapons program and may be cautiously rebuilding.

World

Rubio: Venezuela Cooperates with Iran, Hezbollah

Secretary of State Marco Rubio speaks during a news conference at the State Department, Friday, Dec. 19, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson)
Secretary of State Marco Rubio speaks during a news conference at the State Department, Friday, Dec. 19, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson)
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Rubio: Venezuela Cooperates with Iran, Hezbollah

Secretary of State Marco Rubio speaks during a news conference at the State Department, Friday, Dec. 19, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson)
Secretary of State Marco Rubio speaks during a news conference at the State Department, Friday, Dec. 19, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson)

US Secretary of State Marco Rubio has accused the illegitimate regime in Venezuela of cooperating with criminals that threaten the national security of the United States.

Rubio said Friday the regime of President Nicolas Maduro openly cooperates with Iran, Hezbollah, and drug trafficking groups.

“They (Venezuela regime) operate and cooperate with terrorist organizations against the national interest of the United States, not just cooperate, but partner with and participate in activities to threaten the national interest of the United States,” he told reporters at a news conference at the State Department.

According to Rubio, Venezuela is a country that is not just an illegitimate regime that does not cooperate with the US but also a regime that openly cooperates with criminal and terrorist elements, including Hezbollah, Iran and others.

“And clearly these narco groups cooperate openly from there,” the Secretary of State said.

“We have a regime that cooperates with Iran, that cooperates with Hezbollah; that cooperates with narcotrafficking and narcoterrorist organizations, inclusive not just protecting their shipments and allowing them to operate with impunity, but also allows some of them to control territory,” he added.

Earlier, US President Donald Trump said he was leaving the possibility of war with Venezuela on the table, according to an interview with NBC News published on Friday.

“I don't rule it out, no,” he told NBC News in a phone interview.

Trump also said there would be additional seizures of oil tankers near Venezuelan waters, according to the interview. The US seized a sanctioned oil tanker off the coast of Venezuela last week.

“If they're foolish enough to be sailing along, they'll be sailing along back into one of our harbors,” he told NBC News.

On Tuesday, Trump ordered a “blockade” of all sanctioned oil tankers entering and leaving Venezuela, in Washington's latest move to increase pressure on Nicolas Maduro's government, targeting its main source of income, following which Venezuela's government said it rejected Trump's “grotesque threat.”

World

Iran Says it Executed Man Accused of Spying for Israel

A general view of the snow-covered mountains surrounding Tehran, Iran, 19 Dec 2025. EPA/ABEDIN TAHERKENAREH
A general view of the snow-covered mountains surrounding Tehran, Iran, 19 Dec 2025. EPA/ABEDIN TAHERKENAREH
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Iran Says it Executed Man Accused of Spying for Israel

A general view of the snow-covered mountains surrounding Tehran, Iran, 19 Dec 2025. EPA/ABEDIN TAHERKENAREH
A general view of the snow-covered mountains surrounding Tehran, Iran, 19 Dec 2025. EPA/ABEDIN TAHERKENAREH

Iran executed on Saturday a man convicted of spying for the Israeli intelligence and army, state media reported.

According to The Associated Press, State TV identified the executed man as Aghil Keshavarz, saying he had “close intelligence cooperation” with the Mossad and took photos of Iranian military and security areas.

Keshavarz was arrested while taking pictures of a military headquarters in the northwestern city of Urmia, some 600 kilometers northwest of the capital Tehran in May. He was accused of carrying out more than 200 similar assignments for the Mossad in various cities of Iran, including Tehran.

He was tried and given the death sentence, a ruling the Supreme Court upheld, the report said.

Keshavarz, 27, reportedly studied architecture.

Iran is known to have executed 11 people for espionage since a 12-day air war that Israel waged against Iran in June, killing nearly 1,100 people, including military commanders and nuclear scientists. In return, Iran’s missile barrage killed 28 in Israel.

In October, Iran executed an unknown person convicted of spying for Israel’s intelligence agency Mossad in the city of Qom.