Sharif University head threatens legal action over student protests

Habib Arian, a financial markets researcher, told ISNA that the turning point came on January 10, when the market recorded a one-day outflow of 9.4 trillion rials ($5.8 million), at the time the largest daily withdrawal of individual investor funds.

“That figure showed that trust, which is the main asset of the capital market, had been severely damaged,” Arian said. “From that date onward, the Tehran bourse was unable to return to an upward trajectory, and any positive fluctuation was treated as an opportunity to exit.”

Outflows accelerated as regional tensions intensified and speculation grew about possible confrontation between Iran and the United States. Investors shifted from equities toward hard assets, pushing the dollar above 1,650,000 rials and lifting domestic gold prices sharply.

Between January 8 and February 21, the benchmark index fell 15% while 18-karat gold posted a 33% gain over the same period. Gold-backed funds rose 20%, emerging as a primary destination for funds exiting equities.

“The 48-percentage-point gap between gold and stocks explains why liquidity has fled the equity market at this speed,” Arian said.

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  Money is leaving Iran faster as oil income falls and uncertainty mounts

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  Why Iran cannot stop its currency collapse

On Sunday alone, the main index shed another 103,000 points as retail investors pulled out a record 41 trillion rials ($25.3 million) in a single session, according to market data cited by Arian.

He said the stock market was now driven less by economic fundamentals than by political risk. “The market today is more hostage to political tensions and the shadow of war than to economic variables,” he said. “As long as geopolitical risks do not subside, the capital market will continue to act as a liquidity provider for parallel markets.”

The exodus from stocks comes against a backdrop of broader capital flight and currency weakness.

The rial has traded around 1,630,000 per dollar in recent weeks, reflecting deep structural imbalances, falling oil income and persistent uncertainty surrounding nuclear negotiations and sanctions.

Analysts say the combination of record outflows from equities, a weakening currency and rising demand for gold shows the erosion of investor confidence, with households and businesses seeking safety in assets perceived as more resilient to inflation and political shocks.

“In this environment, investors prefer the security of gold and dollar-linked assets to the ambiguity of shares,” Arian said.

A 35-year-old protester arrested after January demonstrations in Mashhad died in hospital after weeks in a coma caused by severe torture in Revolutionary Guards intelligence detention, according to information received by Iran International.

Arash Tolou Sheikhzadeh was detained on February 6 when agents from the intelligence arm of the Islamic Revolutionary Guards Corps raided his home about a week after he shared videos of protests held in Mashhad on January 8 and 9.

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Arash Tolou Sheikhzadeh was detained on February 6 when agents from the intelligence arm of the Islamic Revolutionary Guards Corps raided his home about a week after he shared videos of protests held in Mashhad on January 8 and 9.

After several days without contact and with his phone switched off, his mother went to his apartment and found it ransacked, with broken windows and no sign of her son, a source close to the family said.

Guards intelligence officials later confirmed he was in custody but refused to allow visits or calls and warned the family to remain silent, saying their other son could face consequences if they spoke publicly, the source added.

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Transfer to hospital in critical condition

On February 12, the family learned through a hospital contact that Arash had been transferred to Velayat Hospital in Mashhad with broken arms, legs and severe head injuries, including a damaged skull. He was admitted to intensive care with a level of consciousness of 2.5 and placed on a ventilator.

The first time his mother was allowed into the hospital, she could only see him from behind a glass partition after repeated requests, the source said.

“His head was bandaged, his hands and feet were bandaged, and he was completely unconscious,” the source said. “When she asked why her son was like this, the officer told her, ‘We did nothing. He had a stroke.’”

Family members said Arash had not been injured during the protests and had continued going to work in the days before his arrest.

Life support cut despite signs of improvement

Arash’s condition showed relative improvement during his stay in intensive care, according to a hospital source who contacted the family. His level of consciousness rose from 2.5 to 5 over three days.

Despite this, his ventilator was switched off on February 15, leading to his death, the source said.

“His condition was clearly getting better,” the source said. “But they turned off the ventilator and effectively killed him.”

When relatives went to the hospital after learning of his death, security personnel denied them access and told them he was alive and had been moved to another ward, the source added.

Burial under tight security

Authorities informed Arash’s mother on February 20 that his body would be handed over the next day. They imposed conditions including no autopsy, a quiet burial and attendance limited to immediate relatives.

“They said they would hand over the body. You are not allowed an autopsy. A quiet burial, only first-degree relatives. Wearing bright clothes, clapping, celebrating, dancing – none of that is permitted. Very quietly. Otherwise, we will not release the body,” the source said.

The body was delivered on Saturday, February 21, at Behesht Reza cemetery in Mashhad, where plainclothes and uniformed forces were deployed in large numbers. The handover was delayed beyond the announced time, the source said.

Despite warnings not to open the shroud, Arash’s mother and relatives briefly uncovered his face before burial.

“When they brought the body, his face was bruised and swollen and there was a clear baton mark on his fractured skull,” the source said. “They tortured him badly.”

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A young man active on social media

Arash, born on December 14, 1988, lived alone in Mashhad and worked as a barista at a café. His Instagram posts showed an interest in social and political issues. He had used the hashtag “Revolution 1401” in support of the “Woman, Life, Freedom” uprising and in one earlier post criticized what he described as superstitious religious beliefs, warning that ignorance lay at the root of many problems.

Arash’s mobile phone remains in the possession of Guards intelligence, the source close to the family said. Friends have noticed that his Instagram account appears to remain active, suggesting that security agents may be monitoring the social media activity of his contacts.

Iran said on Monday it does not support an interim agreement in talks with the United States and is seeking a swift, result-oriented deal focused on lifting sanctions and addressing nuclear issues, as the two sides prepare for another round of negotiations within days.

Foreign Ministry spokesperson Esmail Baghaei said speculation about a temporary arrangement had no basis, adding that details of any agreement would be decided only at the negotiating table.

“A temporary agreement has no basis,” he told a weekly news conference in Tehran. “The drafting of any negotiating text is a joint effort.”

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The sound of an explosion heard on Monday in Khorramabad in western Iran was caused by the disposal of outdated munitions, the public relations office of the army’s 84th Infantry Division said.

It said the destruction of expired and old ammunition is carried out annually from late autumn to late winter by the division’s ordnance disposal team and is proceeding as planned this year.

The statement added that the blast was not related to munitions left over from the 12-day war.