Tehran’s chaotic attempts to stabilize its economy in the face of tightening US sanctions have failed to calm the country’s economic markets. Indeed they have arguably produced the opposite effect: the value of the Iranian rial has continued to slump, reaching an all-time low of close to $1=IR90,000 on the black market in recent days.

OIL EXPORTS: ‘DOWN TO ZERO’       
Brian Hook, Director of Policy Planning at the US Department of...