Iran snubs offer of a meeting by Trump

The Iranian rial has lost nearly two-thirds of its value since the start of the year

Historic deal on Iran's nuclear program from 2015 provides for the removal of sanctions against Iran in exchange for limiting its opportunities for the enrichment and storage of nuclear materials.

In his first public comments after the Trump remarks, Iranian President Hassan Rouhani avoided mentioning Trump's comments, instead stressing the need for the other nations involved in the nuclear deal to forge ahead with their pledges of trying to salvage it.

Trump's move to scupper the nuclear accord in May was widely condemned by co-signatories to the deal, including US allies like Germany and France who continue to seek pathways by which they can continue pursuing trade relations with Tehran, in spite of the new sanctions.

Iran's currency plumbed new depths this week ahead of August 7, when Washington is due to reimpose a first lot of sanctions following Trump's withdrawal from the 2015 nuclear deal.

President Donald Trump's withdrawal from the landmark agreement, signed by the USA and five other world powers, remains one of the most consequential foreign policy decisions of his presidency.

The US has set a deadline of 4 November for major buyers of Iranian oil to stop their purchases. The government pledged last week to provide basic commodities to the poor, but many emphasized feelings of panic among Iranians as a result of rising US-Iranian tensions.

With a public outcry and heavy sanctions looming, there is no clear sign of a plan from the clerical regime to tackle these issues, to come up with a project or a proposal to ease the internal and global pressure, or make any changes in their behavior.

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Countries affected by US sanctions and account freezes - such as Iran, Russia, and Venezuela - have long sought solutions to their woes by weaning themselves from the USA dollar.

The sanctions that go back into effect on Monday cover Iranian trade in automobiles and metals, including gold.

Later, Trump's Secretary of State, Mike Pompeo, laid out some preconditions, but the offer remained extended.

Donald Trump told Iran's President to "never, ever threaten the United States again". "Even U.S. presidents after you will not see that day". The downturn has sparked waves of protests across Iran.

The president also issued an all-caps threat to Iranian President Hassan Rouhani last month, warning him not to threaten the USA or "YOU WILL SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE".

The Iranian rial has dropped to a new record low amid growing concerns of renewed American sanctions, due to kick in on Monday.

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