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Iran's President Masoud Pezeshkian said the government is moving to stop allocating preferential exchange rates, arguing that multiple dollar rates fuel corruption and rent-seeking,
“We are now deciding not to give 280,000- or 700,000-rial dollars to anyone,” Pezeshkian said, referring to subsidised exchange rates. “Anyone who receives 280,000- or 700,000-rial dollars is receiving rent, and we want to stop that.”
A late-night meeting, he said, was held with the ministers of economy, agriculture, labour and welfare, as well as officials from the Central Bank and the budget organisation, to coordinate the policy shift.
The Persian-language account of the US State Department said Iran’s ongoing crises stem from repression and mismanagement by the Islamic Republic, calling for an end to what it described as a cycle of suffering.
In a New Year message posted on X, the account wished Iranians a hopeful 2026 marked by “prosperity, justice and human dignity for all.” It cited challenges faced by Iranians in 2025, including the collapse of the rial, rising food prices, air pollution, water shortages, energy crises, and increased censorship and internet disruptions.
“Continued repression and mismanagement by the Islamic Republic have deepened the people’s suffering,” the statement said, adding: “This cycle of crisis and oppression must end.”
Nationwide protests were held in Iran for the fourth day in a row on Wednesday, with fresh rallies reported in multiple cities, a harsh response from security forces and growing calls for a regime change by both protesters and politicians across the world.
Demonstrators took to the streets in cities including Esfahan, Hamadan, Babol, Dehloran, Baghmalek and Pian, chanting slogans against Supreme Leader Ali Khamenei, backing exiled prince Reza Pahlavi, and commemorating slain protesters from previous uprisings such as teenager Artin Rahmani from Izeh.
In Esfahan, nighttime protesters were filmed chanting “Don’t be afraid, we are all together” and “Death to the dictator,” while in Dehloran and Baghmalek demonstrators shouted pro‑monarchy slogans including “This is the national slogan: Reza Pahlavi,” “Javid Shah” (“Long live the Shah”) and calls for Khamenei to be overthrown.
Acts of defiance
Security forces responded with force in several locations, with reports and footage of gunfire and tear gas in cities such as Nahavand, Asadabad and Hamadan, where residents were seen standing their ground, including one protester who faced down a water cannon.
In Babol, crowds intervened to stop security forces from arresting a demonstrator, while in Tehran a student leader at the University of Tehran, Sarira Karimi, was detained after a raid on her home, with her whereabouts unknown.
Voices of support
Prominent cultural and religious figures also weighed in, with top Sunni cleric Molavi Abdolhamid saying crushing living conditions and a political dead-end are driving the revolt, and acclaimed filmmaker Jafar Panahi describing the unrest as an uprising to “push history forward” now that “shared pain has turned into a cry in the streets.”
Western politicians continued to line up behind the protesters. US Senator Rick Scott said he was encouraged to see Iranians “calling for an end to the abusive Iranian dictatorship” and urged them to keep standing up to the “evil regime," while fellow Republican Senator Pete Ricketts called for more pressure on Tehran as people risk their lives in the streets.
Swedish MEP Charlie Weimers urged the EU to “stand on the right side of history” by cutting diplomatic ties with Tehran’s rulers, backing internet access for Iranians and engaging with opposition leaders about a “post‑Islamist Iran."
Swedish Member of the European Parliament Charlie Weimers said that as people in Iran protest against their government, it is time for the European Union to act and increase pressure on Tehran.
“The people of Iran are standing up to the murderous mullahs and it’s time for the EU to stand on the right side of history,” Weimers posted on X on Wednesday.
“Cut diplomatic ties with the dying regime in Tehran – throw out the ambassadors, support internet access for the people, meet with opposition leaders to discuss post-Islamist Iran,” he added.
Republican Congresswoman Nancy Mace sent a message of support to protesters inside Iran, saying she believes freedom will ultimately win.
“To the beautiful people of Iran, your courage is louder than the terrorism, tyranny and fear. The world sees you, the world stands with you and we believe in you,” Mace posted on X on Wednesday. “Freedom will prevail.”
