The Iranian rial has dropped to a record low, reaching 2 million to the US dollar. This decline comes as the US prepares to impose new sanctions on Iran, which the Trump administration refers to as "economic D-Day". The sanctions are expected to include penalties for countries that continue to do business with Tehran.

Further details on the sanctions are expected to be announced by US Treasury Secretary, however it appears the measures will target countries that defy the sanctions. The impact of these sanctions on Iran's economy and its relationships with other countries, such as China, is yet to be seen.

More information on the sanctions and their potential effects can be found through KXXV news.