Iran economic protests shut Tehran's Grand Bazaar

Virginia Carson
June 28, 2018

According to one Iranian journalist, some merchants said the order to shut down and go on strike came from the bazaar's Shah Mosque and its board of trustees.

Protesters in the Iranian capital reportedly swarmed its historic Grand Bazaar on Monday and forced shopkeepers to close their stalls, apparently angry over the Islamic Republic's troubled economy, months after similar demonstrations rocked the country.

The protests then spiraled out of control, with people openly criticizing both Rouhani and Supreme Leader Ayatollah Ali Khamenei.

TEHRAN, Iran-Hundreds protested in the Iranian capital on Monday while merchants in the city's oldest bazaar shut their shops to protest economic woes and a collapsing currency as the USA restores sanctions.

The first clash between the protesters and the police occurred near the Parliament building, where the security forces to disperse the crowd using tear gas.

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Before opening a closed-door session on price rises, Jahangiri stated that the U.S. is looking to pressure Iran back to the negotiating table through economic pressure.

The economic trouble also comes as worldwide firms have pulled away from Iran after United States president Donald Trump's decision to withdraw America from Tehran's nuclear deal with world powers. The videos show tear gas in the air and protesters screaming, "They attacked us with tear gas!"

The Iranian authorities attempted to halt the rial's slide in April by unifying the official and black market exchange rates and by banning trading at anything other than the official rate of 42,000 rials to the dollar.

Ali Fadli, the head of Iran Chamber of Commerce, Industries, Mines and Agriculture, said that the situation in the Tehran Bazaar is calm and has since it returned to its normal.

Other videos appear to show the protestors chanting, "Death to dictator".

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On Monday, traders protested on the Hafez Bridge in the Iranian capital of Tehran.

Meanwhile, the Central Bank Governor Valliollah Seyf on June 25 responded to the rapidly falling value of the rial by announcing plans to launch "a second foreign exchange market" next week to battle black-market currency traders.

Fears about the impact of the U.S. sanctions that will start to be reinstated in August and possibly trigger the collapse of the nuclear deal has led to the rial falling to a record low against the dollar on the unofficial foreign exchange market.

Violence at those demonstrations, which continued into early January, left 25 dead and almost 5,000 people detained by authorities.

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