U.S. Sanctions Have Caused ‘Serious’ Damage to Iran, Tehran Says

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Iran's Ministry of Foreign Affairs said Monday that American sanctions "have caused serious monetary and financial damages to Iran," Radio Farda reported.

Saeed Khatibzadeh, spokesman for Iran's foreign ministry, said that Washington's "maximum pressure" campaign has created a shock effect on Iran's financial stability. He also said that Tehran will pursue legal recourse by filing for compensation from the United States via the International Court of Justice.

"The United States must make up for all the damage it has done to Iran," Khatibzadeh said. "Iranian people should not doubt that we will cash compensation for all damages cent by cent."

In recent years, American sanctions have decimated the Iranian economy. The rial—Iran's chief currency—has seen its value drop by over a third since June and now sits at an all-time low.