Iran Prosecutor General Alarms Those Behind Price Hikes

In a judicial meeting in Iran’s western city of Ilam on Wednesday, the prosecutor general recommended the individuals with a role in the commodity price rises and increasing value of foreign currencies to change their behavior before being arrested by the Judiciary.

“Their action is helping the enemy and disrupting the society’s economic system and security,” he deplored.

Those disrupting the Iranian market should realize their mistakes and stop betraying people before facing the security and intelligence forces, Montazeri added.

It is immoral to gain assets amid the market disturbance and cooperate with the US, he added.

Slamming the individuals behind a rise in the price of goods and currency in Iran as the “fifth column” of enemies, the prosecutor general warned them to repent of their measures before being brought to justice.

While Iran’s market has experienced a hike in the value of foreign currencies and gold coin prices in recent months, the Iranian money has plunged to a record low against the US dollar in the unofficial market, which is being offered for as much as 120,000 rials on Monday.

Iranian gold coin price has also rocketed up, hitting 45 million rials in the same day.

The price of “Spring of Freedom” gold coin, minted by the Central Bank of Iran, has almost doubled in the past two months.

Foreign currency values began to rise in Iran after the US withdrew from the Iran nuclear deal in May and announced plans for a fresh wave of sanctions against the Islamic Republic.

There has been growing demand for dollars among ordinary Iranians, who fear more plunge in the value of their assets and growing price of goods, even those not imported from abroad.

The purchasing power of Iranians has plummeted for the umpteenth time in recent months as wage increases have lagged far behind prices.

In comments this month, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei reiterated the need for Europe to guarantee Iran’s economic benefits under the Joint Comprehensive Plan of Action (JCPOA), but underscored that the country’s economy should not hinge on the fate of the nuclear deal.

In a meeting with President Hassan Rouhani and his cabinet members, the Leader called for a “road map to stable economy” in order to resolve the economic woes.

Ayatollah Khamenei also called on the administration to bolster the private sector and take strong punitive action against wrongdoers, saying offenders in any position must be brought to justice.