U.S. Miscalculations Leave Iran Defiant Amid New Sanctions

On Monday, Iran's rial currency fell to a record low as President Donald Trump was set to announce new sanctions, which he referred to as an 'economic D-Day'. This development is intended to add further pressure on an economy already struggling because of previous sanctions and a U.S. naval blockade. Trump's announcement follows the expiration of a 60-day negotiation period aimed at ending the war and reopening the Strait of Hormuz, which was established under an interim peace agreement signed in June, without any resolution being reached.