Iran says US 'maximum pressure' will fail as currency plunges to record low

Iran's rial currency plunged Wednesday to record low of 850,000 to $1 after U.S. President Donald Trump's order to restart 'maximum pressure' campaign.

Iranian Foreign Minister Abbas Araghchi said that Trump's reimposition of a policy of "maximum pressure" against Iran will end in "failure" as it did during his first term.

"I believe that maximum pressure is a failed experiment and trying it again will turn into another failure," Araghchi told reporters following a cabinet meeting, adding that Tehran was not pursuing nuclear weapons.