Iran International
The dramatic fall in the value of the Iranian currency over the past few months, particularly since President Donald Trump took office in the United States, is likely to claim victims from among the president's cabinet members.
The rial has depreciated by approximately 50% against the US dollar since September, a sharp decline that is expected to further drive up Iran’s already high inflation by increasing the cost of both domestic production and imports.
Iran’s hardliner-dominated parliament (Majles) appears determined to impeach Economy Minister Abdolnasser Hemmati and push Pezeshkian to dismiss Central Bank Governor Alireza Farzin. Energy Minister Aliabadi is also on the impeachment list, facing scrutiny over his ministry’s failure to secure adequate fuel for power plants during the winter months.
Amid Supreme Leader Ali Khamenei’s repeated calls for unity within the government and his criticism of discord between the president and parliament, lawmakers held a closed-door meeting on Tuesday to brief Pezeshkian on the rial’s depreciation—despite the president already being well aware of the deeper causes of Iran’s chronic economic crisis.
“The Majles has vowed to hasten Hemmati’s impeachment if he and Pezeshkian fail to convince parliament that they are taking effective action to address the crisis and improve people’s livelihoods,” Iranian media quoted parliamentary officials as saying on Monday.
Media outlets in Tehran, including Khabar Online, reported that while the primary reasons for the motions against Aliabadi and Farzin are power shortages and rising exchange rates, respectively, some in parliament may also be pushing for their removal due to their ties to former President Ebrahim Raisi’s administration.
Pezeshkian has faced repeated criticism from the media for reinstating officials from the previous government. Given this, it is easy to conclude that he might not oppose their dismissal, as it could help project the appearance of the much-sought "change" in his administration.
However, Hemmati presents a different challenge. His outspoken approach, as demonstrated in the past, has the potential to create problems for both parliament and the president. During Raisi’s three-year tenure, he frequently criticized the government's economic performance, making him a persistent and vocal opponent.
Analysts and commentators in Iran have long argued that chronic inflation and declining economic indicators stem from US sanctions imposed since 2018 and the state-controlled nature of the economy. While officials occasionally attribute economic hardships to sanctions, they more often emphasize Iran’s ability to circumvent them through innovative measures. Less frequently discussed, however, is the country’s unique and intertwined political-economic system, which fosters monopolies and enables corruption among insiders.
Regarding Aliabadi’s case, Pezeshkian has acknowledged that he himself bears responsibility for the fuel and power shortages, admitting to mistakes in assessing the issue.
Hemmati, meanwhile, has partly attributed the rial’s decline to "regional developments." However, according to Khabar Online, most Iranian media outlets place the blame on Pezeshkian and his appointment of ultraconservatives to key positions as the main drivers of the country’s financial and energy crises.
The Rouydad24 website has noted that Trump's return to power has intensified Iran’s economic crisis. It reported that his renewed threats of "maximum pressure" on Tehran have contributed to rising exchange rates and soaring gold prices in the Iranian market.
Fathollah Tavassoli, a member of the Majles economic committee, insisted that "those pushing for Hemmati’s impeachment are independent MPs" and that the move is not driven by political or factional motives. However, another lawmaker, Mohammad Mehdi Shahryari, countered that "hardliners are pressuring independent MPs to support the impeachment motion."
So far, 89 lawmakers out of 290 have signed the motion—far exceeding the 10 signatures required for the Majles presidium to proceed with impeachment.
