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Iran currency devaluating after US ends oil sanction waivers

Iran currency nosediving following the end of U.S. oil sanctions waivers
Iran currency nosediving following the end of U.S. oil sanctions waivers

Analysis by PMOI/MEK

 

April 24, 2019 – Price of the U.S. dollar and gold coins increased sharply on Monday in Iran following the United States announcing the end of all sanctions waivers for the country’s oil imports.

The value of each US dollar increased by 3,000 rials on Monday, reaching 140,000 rials, and gold coins reached 49,000,000 rials, seeing an increase of 1,200,000 rials per each gold coin.

 

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Recent events in Iran have affected the economy in Iran drastically. The devastating flash floods in more than three-quarter of the country, the foreign terrorist organization (FTO) listing of the Islamic Revolutionary Guards (IRGC) and now, the sanctions waivers of the country’s oil export are placing enormous pressure on the regime’s economy.

According to some Iranian officials, even last year was a dangerous crisis-riddled year for the mullahs’ regime. With growing international isolation, a crumbling economy and a dwindling base of supporters on topping new consecutive crises, this year would bring far more ill-fate for the ruling mullahs that may put an end to their theocracy.

Arman newspaper, affiliated with the so-called moderates tied to regime president Hassan Rouhani, quoted Sadegh Zibakalam, a pundit close to Rouhani, saying that considering the current difficulties, he is worried that these problems could become “the root for political action,” which in turn “inflicts the regime with struggles…”

The Jomhuri Eslami newspaper, another outlet of Rouhani’s faction, warns the political elite that considering the current difficulties “we all should buckle up and prepare for bearing a difficult year.”

The Ebtekar newspaper also predicted a gloomy prospect. “There is no doubt that this year will be a difficult and tough one for all the people of Iran,” the piece reads in part.

A few months ago, regime Supreme Leader Ali Khamenei warned about “conspiracies” in the following Iranian year. Conspiracy is the official Iranian parlance for popular uprisings.

Following Khamenei’s statements, his faction’s rank and file, especially the Friday prayer imams in almost every province, warned about “conspiracies” and “revolts” in the Iranian New Year.

Now, Rouhani’s faction is following suit and expressing concern about this year, describing it as “difficult” and “gloomy.”

 

 

 

 

 

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