Tehran: Signs that Iran is heading for a severe financial crisis. The people of the country have started agitating as the prices of essential commodities have quadrupled in one go. There are reports that four people were killed in clashes in protests in the last day. Iran’s neighbor Sri Lanka has been hit hard by the economic crisis.
Iran is a country with heavy media restrictions. That is why not much information comes out here. However, scenes of protests in major Iranian cities have been circulating on social media. Several businesses in the cities were also reported looted.
The current rise in prices is due to the sudden cessation of subsidies in the country.
Protests are rising against Iran’s Supreme Leader Ayatollah Ali Khamenei and President Ibrahim Reiz. Prices of cooking oil, milk and cereals have quadrupled in recent days. The government has cut off Internet services in major Iranian cities as protests intensify.