Iran's Economic Crisis Deepens as Minister and Vice President Exit Government

The Iranian parliament ousts the economic minister over inflation and currency collapse, prompting the vice president's resignation in a blow to the reformist government.

Iran's parliament voted to remove Economic Minister Abdolnaser Hemmati, citing mismanagement and the sharp devaluation of the rial during his tenure.
The rial's value has nearly halved against the US dollar since Hemmati took office, exacerbating import costs and inflation for essential goods like food and medicine.
President Massoud Pezeshkian defended Hemmati before the vote, framing the economic crisis as part of a broader 'economic war' driven by Western sanctions, but failed to sway lawmakers.
Vice President Mohammad Javad Zarif resigned shortly after Hemmati's dismissal, marking his second resignation since the reformist administration took office in July 2024.
The departures of Hemmati and Zarif, both considered moderates, weaken Pezeshkian's government, which faces mounting pressure from a conservative-dominated parliament.