President Hassan Rouhani promised Iranians the government might be able to handle the economic pressure of brand-new U.S. sanctions, a day after traders massed outside parliament, protesting against a sharp fall inside value of the national currency.
Washington is usually to start reimposing economic penalties on Tehran in coming months after U.S. President Donald Trump quit an agreement between major world powers along with also Iran in which sanctions were lifted in return for curbs on its nuclear programme.
This kind of may cut Iran’s hard currency earnings via oil exports, along with also the prospect is usually triggering a panicked flight of Iranians’ savings via the rial into dollars.
On Monday, police patrolled Tehran’s Grand Bazaar as security forces struggled to restore normality after clashes with protesters angered by the rial’s collapse, which is usually disrupting business by driving up the cost of imports.
Defending his economic record, Rouhani said the government’s income had not been affected in recent months, along with also the fall inside rial was the result of “foreign media propaganda”.
“Even inside worst case, I promise of which the basic needs of Iranians will be provided. We have enough sugar, wheat, along with also cooking oil. We have enough foreign currency to inject into the market,” Rouhani said in a speech broadcast live on state television.
Rouhani said the fresh U.S. sanctions were part of a “psychological, economic along with also political war”, adding of which Washington might pay a high cost for its actions.
“Withdrawal was the worst decision he (Trump) could make. the idea was appalling. the idea hurt America’s global reputation,” he said.