Recent U.S. sanctions targeting Iranian oil shipments to China and entities supporting Tehran’s missile and drone programs have intensified pressure on Iran’s foreign exchange reserves and export revenues. These measures, announced in early May, build on longstanding restrictions that limit access to international markets and hard currency inflows. Domestically, elevated inflation continues to erode the rial’s purchasing power, while oil export dynamics and global commodity prices remain key variables. With the resolution date of May 31 fast approaching, traders are monitoring any further diplomatic or enforcement actions that could influence short-term currency flows and the exchange rate trajectory.