Iran's Currency Hits Record Low as Parliament Speaker Warns on Oil

In late September 2026, Iran's currency fell to a record low as the war in the Middle East weighed on the country's economy. Iran's parliament speaker, Ghalibaf, warned that if Tehran is blocked from selling oil, no one in the region will be able to sell oil. Iran also called US aviation sanctions "bullying" and said it is pursuing legal action, while an Iranian scholar said the sanctions raise international law concerns.

EU nations are seeking energy alternatives after spending more than $113 billion extra since the Iran war began.