Iran’s parliament fires economy minister over plummeting rial, accusations of mismanagement

Iran’s parliament impeaches the country’s economy minister and votes to remove him from office, amid growing concerns over the crashing rial and accusations of mismanagement.

Parliament Speaker Mohammad Bagher Qalibaf announces that 182 out of 273 lawmakers voted to dismiss Abdolnasser Hemmati, just six months after President Masoud Pezeshkian’s government took office.

Pezeshkian, who defended Hemmati, emphasizes that the government is locked in a tough battle with the West. He calls for greater unity and cooperation from Parliament to face these challenges.

The decision comes amid rising tensions over Iran’s nuclear program and worsening relations with the West.

Iran’s economy has been severely affected by international sanctions, especially after the US withdrew from the 2015 nuclear deal. In 2015, the rial was worth 32,000 to the dollar, but by the time Pezeshkian took office in July, it had plummeted to 584,000 to the dollar. Recently, it dropped even further, with exchange shops in Tehran trading 930,000 rials for each dollar.