Protests erupt in Iran over nation’s tanking economy as people reach ‘point of explosion’
Pro-government supporters participate in a rally in Tehran, while protesters demonstrate against the poor economic conditions in the city. ZUMAPRESS.com
Raucous protests have erupted across Iran as citizens struggle with a severely battered economy, pushing the cost of living to unbearable levels while the country’s leaders scramble to contain the unrest.
The demonstrations, initially led by traders and shopkeepers, ignited in Tehran and other cities on Monday. By Tuesday, students from multiple universities had joined the rallies, amplifying tensions across the country.
Iran faces a punishing combination of a collapsing currency and soaring inflation, a crisis experts say cannot be ignored by the nation’s top officials. “These days, even meeting friends feels like a math test, constantly calculating whether we can afford even a simple coffee,” said Omid, a 42-year-old sales manager, speaking to the New York Times.
Omid’s monthly income has dropped from the equivalent of $300 to $200 in just two months. Mariam, 41, told the outlet she has also had to tighten her budget. “Things have gotten so expensive that when I had guests recently, I was constantly calculating to make sure I wouldn’t run out of money before the month ended,” she said.
The Iranian rial plunged to 1.38 million per dollar on Monday, a dramatic fall from around 430,000 per dollar in 2002. Meanwhile, the cost of basic necessities, including food, has skyrocketed, driving inflation to 42.2% compared with last year. Earlier this month, the government raised gas prices for the first time since 2019, fueling further public anger.
Protests have been met with force in some areas, with police firing tear gas at demonstrators. Videos show students chanting “Death to the dictator” in reference to Supreme Leader Ayatollah Ali Khamenei, and others shouting “Rest in peace Reza Shah,” recalling the founder of Iran’s royal dynasty deposed in the 1979 Islamic Revolution.
Although Iranian authorities have historically cracked down harshly on dissent, President Masoud Pezeshkian sought to ease tensions, promising to listen to protesters’ “legitimate demands.” A government spokesperson told state media on Tuesday, “We officially recognize the protests … We hear their voices and understand this pressure stems from the struggles of people’s livelihoods.”
In a related shake-up, the head of Iran’s Central Bank resigned, according to state television.
Support for the demonstrations has also surged online, with many Iranians highlighting the economic hardships and rampant corruption. Soroosh Dadkhah, a social media commentator, wrote that the situation has driven people “to the point of explosion.” Esfandyar Batmanghelidj, CEO of the London-based Bourse and Bazaar Foundation, told the New York Times that Iranian leaders are increasingly aware that ignoring public demands “has undermined their legitimacy and authority,” though he noted their responses remain “haphazard and belated.”
The country’s economic struggles intensified after U.S. sanctions were reimposed in 2018 during President Trump’s first term, following his withdrawal from the Obama-era nuclear deal. Further sanctions from the United Nations in September compounded the crisis.
Iran also faces rising tensions with Israel after a 12-day conflict in June, with markets concerned that a broader confrontation could draw in the United States.
This week’s rallies mark the largest public unrest since the 22-year-old Mahsa Jina Amini died in police custody following an arrest by the morality police over alleged hijab violations, sparking nationwide outrage.
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