Iran warns of escalating sanctions, market inflation

Iran's First Vice President Mohammad Reza Aref has issued a stern warning that external adversaries, particularly the United States and Israel, are employing economic warfare tactics in response to recent military confrontations. Aref argued that the enemy is using economic pressure and domestic inflation to sow social unrest, as reported by Iranian media outlet ISNA.

The First Vice President emphasized Iran's commitment to international law, stating that while Iran respects global norms, it will not abandon its rights or succumb to pressure.

Aref highlighted Iran's victory in the recent war, particularly in managing the Strait of Hormuz, and warned of the enemy's attempts to compensate for their military setbacks through economic means. He stressed the importance of national unity and cohesion in withstanding economic pressure, even if the enemy possesses greater resources.

The First Vice President called for intensified market surveillance and punitive measures against overpricing, underselling, and hoarding, urging all institutions to counter these practices.

Prices in Iran have soared to alarming levels, according to Aref, who attributed the surge to structural reforms. However, he noted that the psychological impact of these price increases needed to be contained. Controlling inflation, stabilizing the market, and preserving purchasing power for essential goods, especially for vulnerable populations, were identified as top priorities in the government's next two-year plan.

The First Vice President also cautioned about potential economic and social pressures, urging the government to prepare for worst-case scenarios with innovative and operational plans. Meanwhile, Iran's Parliament Speaker Mohammad Ghalibaf described the country's military and political victory in the unjust war led by the United States and Israel, describing the MoU between Iran and the US as a source of pride and a boost to Iran's diplomatic success.