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Sanctions noose tightens on Iran: LONDON: Iran is staring into the economic abyss as the US today restores crippling sanctions that have already sparked protests countrywide and sent the value of the Iranian rial tumbling.

The US Treasury Department’s new sanctions are wide-ranging and block Tehran from acquiring US dollars, and trading in gold and other precious and industrial metals.

They also cover the automotive sector and debt markets — effectively preventing the country from seeking relief at home by raising international capital. The measures even extend to the sale of pistachio nuts and Persian rugs.

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Sanctions noose tightens on Iran: LONDON: Iran is staring into the economic abyss as the US today restores crippling sanctions that have already sparked protests countrywide and sent the value of the Iranian rial tumbling.The US Treasury Department’s new sanctions are wide-ranging and block Tehran from acquiring US dollars, and trading in gold and other precious and industrial metals. They also cover the automotive sector and debt markets — effectively preventing the country from seeking relief at home by raising international capital. The measures even extend to the sale of pistachio nuts and Persian rugs.anctions noose tightens on Iran: LONDON: Iran is staring into the economic abyss as the US today restores crippling sanctions that have already sparked protests countrywide and sent the value of the Iranian rial tumbling.The US Treasury Department’s new sanctions are wide-ranging and block Tehran from acquiring US dollars, and trading in gold and other precious and industrial metals. They also cover the automotive sector and debt markets — effectively preventing the country from seeking relief at home by raising international capital. The measures even extend to the sale of pistachio nuts and Persian rugs.