Iranians have taken to the streets of Tehran this week in the biggest protests seen in the capital since 2012.
Thousands marched towards the gates of the Iranian parliament on Monday, forcing many traders to shut up shop. Police retaliated with tear gas, dispersing the crowds, but the protests continued yesterday and are spreading to other cities.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Donald Trump’s announcement last month that the US was withdrawing from the 2015 Iran nuclear deal has triggered a sharp decline in the value of the Iranian rial, which in turn has seen import costs skyrocket.
There were about 65,000 rials to $1 on Iran’s unofficial currency exchange market prior to Trump’s decision, compared with 90,000 rials as of Monday.
“People in the Middle Eastern nation have watched their savings dwindle,” says Sky News.
There are also fears that the threatened return to US sanctions will cut Iran’s earnings from oil experts, further damaging the already declining economy.
“We are all angry with the economic situation. We cannot continue our businesses like this,” a merchant in Tehran’s Grand Bazaar told Reuters.
President Hassan Rouhani insists his government will be able to withstand the rapid currency drop and any new US sanctions. The Iranian leader spoke out after the Central Bank of Iran announced that it will create a secondary market for foreign exchange to help get around a dollar shortage.
Yesterday Rouhani declared: “We are fighting against the United States, it wants to make an economic war. The US cannot defeat our nation; our enemies are not able to force us to their knees.”
But such reassurances have done little to calm many Iranians’ fears.
-
AI workslop is muddying the American workplaceThe explainer Using AI may create more work for others
-
Japan poised to get first woman prime ministerSpeed Read The ruling Liberal Democratic Party elected former Economic Security Minister Sanae Takaichi
-
The 5 best mob movies of all timeThe Week Recommends If you don’t like a good gangster flick, just fuhgeddaboudit
-
Israel and Hamas meet on hostages, Trump’s planSpeed Read Hamas accepted the general terms of Trump’s 20-point plan, including the release of all remaining hostages
-
US tipped to help Kyiv strike Russian energy sitesSpeed Read Trump has approved providing Ukraine with intelligence for missile strikes on Russian energy infrastructure
-
Netanyahu agrees to Trump’s new Gaza peace planSpeed Read At President Trump's meeting with Israeli Prime Minister Benjamin Netanyahu, they agreed upon a plan to end Israel’s war in Gaza
-
Russia is ‘helping China’ prepare for an invasion of TaiwanIn the Spotlight Russia is reportedly allowing China access to military training
-
Interpol arrests hundreds in Africa-wide sextortion crackdownIN THE SPOTLIGHT A series of stings disrupts major cybercrime operations as law enforcement estimates millions in losses from schemes designed to prey on lonely users
-
The dark history of myths about immigrants eating swans and petsIn the Spotlight Nigel Farage has mimicked Donald Trump and peddled tropes and rumours that have long been used to ‘dehumanise’ immigrants
-
What would happen if Israel lost America’s support?Today’s big question Loss of US backing could be a ‘catastrophe’ for Israel
-
Charlie Kirk, Jimmy Kimmel and free speechTalking Point TV host’s cancellation and Trump administration’s threats to media have led to accusations of Maga hypocrisy
