The Lebanese pound hit a new low against the U.S. dollar on the black market Tuesday, crashing below 30,000 to the greenback.

The exchange rate, which is unofficial but applies to most transactions, had dropped from a record high of LBP 38,000 to LBP 27,300, last month, after Central Bank Governor Riad Salameh issued a statement saying banks would resume exchange operations at the Sayrafa platform rate to “all the holders of Lebanese pounds, be them citizens or institutions, who want to exchange them for U.S. dollars.”

The German government is setting in motion plans to legalize the sale of cannabis for recreational purposes, aiming to have legislation ready later this year.

The Health Ministry said Monday that it will start holding expert hearings on various aspects of the issue Tuesday. It said that more than 200 representatives from the medical, legal and other fields will take part, along with officials from various levels of government and unidentified international experts.

Britain's government is expected to introduce legislation Monday that would unilaterally change post-Brexit trade rules for Northern Ireland amid opposition from lawmakers who believe the move violates international law.

The proposed bill aims to scrap parts of a trade treaty that Prime Minister Boris Johnson signed with the European Union by removing checks on goods entering Northern Ireland from the rest of the U.K.

Iran's currency has dropped to its lowest value ever as talks to revive the country's tattered nuclear deal with world powers remained deadlocked.

Traders in Tehran exchanged the rial at 332,000 to the U.S. dollar, up from 327,500 on Saturday. That marked more than a 4.4% change compared to June 1 when it traded at 318,000 to the dollar.

India and other Asian nations are becoming an increasingly vital source of oil revenues for Moscow despite strong pressure from the U.S. not to increase their purchases, as the European Union and other allies cut off energy imports from Russia in line with sanctions over its war on Ukraine.

Such sales are boosting Russian export revenues at a time when Washington and allies are trying to limit financial flows supporting Moscow's war effort.

European Commission chief Ursula von der Leyen and Italian Prime Minister Mario Draghi were headed to Israel Monday as the EU seeks to wean itself off Russian fossil fuel imports. 

Von der Leyen and Draghi are due to hold energy talks in Israel, which has turned from a natural gas importer into an exporter in recent years because of major offshore finds.

Seven bodies, including those of two Lebanese citizens, have been found in the wreckage of a helicopter that disappeared in the mountains of northern Italy two days ago, with no survivors, emergency services said.

Iran and Venezuela on Saturday signed a 20-year cooperation agreement during a visit by Venezuelan President Nicolas Maduro to Tehran, state media reported.

State Prosecutor Ghassan Oueidat has requested that charges be issued against Central Bank chief Riad Salameh on suspicion of financial misconduct based on preliminary investigation findings, a court official said.

Lebanon opened a probe into Salameh's wealth last year, after the office of Switzerland's top prosecutor requested assistance in an investigation into more than $300 million which he allegedly embezzled out of the central bank with the help of his brother.

Japan on Friday eased its borders for foreign tourists and began accepting visa applications, but only for those on guided package tours who are willing to follow mask-wearing and other antivirus measures as the country cautiously tries to balance business and infection worries.

Friday is the first day to start procedures needed for the entry and arrivals are not expected until late June at the earliest, even though airport immigration and quarantine offices stood by for any possible arrivals.