US-Iran war: Could ‘gold on lease’ cost Iranians heavily? What expert warned as Trump steps up economic campaign
Iran has been reeling under a deep economic crisis, with the US launching 'Operation Economic Outcast' this month, pressuring the Islamic Republic to extract concessions in any future negotiation that six months of conflict have so far failed to secure.
Iranian authorities have cautions against Iranians leasing their gold to jewelers amid an ongoing conflict with the United States. This warning comes as the country faces a severe economic crisis, exacerbated by the US-imposed sanctions. Mohammad Saeed Jafari, head of the Gold and Jewellery Union in Kermanshah, expressed concern that such arrangements pose a significant risk to the owners, as the gold may not be returned in its original form.
He urged people to avoid these transactions and to deal with licensed, established jewellers instead. The Iranian economy has been struggling for months, with the rial plummeting to record lows and inflation reaching record highs. The country's economic woes have been further compounded by the US economic blockade, which has isolated Iran from international financial networks and cut off its main revenue source - oil exports.
Despite these challenges, Iran's leadership remains wary of defaulting on its economic obligations, and is keen to avoid any actions that could reignite nationwide protests.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
