Iran crisis: Parliament answers protests by firing economics minister

by WorldTribune Staff, August 26, 2018

Iran has sacked its economics minister amid a sharply declining economy and widespread anti-government protests following a dramatic policy shift by the United States government.

Masoud Karbasian. / AFP

Minister of Economic Affairs and Finance Masoud Karbasian was removed from office by Iran’s parliament. Iranian media said 137 lawmakers voted to remove the minister, with 121 against.

Karbasian’s ouster comes as Iran’s economy continues to go downhill following the re-imposing of sanctions after President Donald Trump withdrew the U.S. from the 2015 nuclear deal.

Major European firms, including France’s Total, Peugeot and Renault, and Germany’s Siemens and Daimler, have all announced their departure from Iran since Trump pulled out of the nuclear deal.

The value of Iran’s currency has plunged. The rial since April has lost half its value.

Earlier this month, Iran’s parliament voted out the minister of labor.

Meanwhile, protests against the Iranian regime continue, reaching more than 80 cities and resulting in at least 21 deaths since December.

Protests have also continued sporadically in a top institution of Iran’s economy, the Grand Bazaar in Teheran, where store owners have at times engaged in violent confrontations with security forces.

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