Protests break out in Iran over economic crisis

Business owners in Tehran’s historic bazaar staged a strike on Sunday against runaway inflation and soaring currency exchange rates, spurring others to join around the capital.

The strike, which began with shoe sellers in the 15th Khordad area, quickly spread to other sectors, reflecting the economic pressures affecting local businesses.

Videos shared with Iran International show merchants in the bazaar chanting “Don’t be afraid, close up,” and “Brave merchants, support, support".

The Iranian rial’s sharp depreciation has had ripple effects across the economy. For merchants, it has created an untenable mix of higher costs and reduced consumer demand as at least one third of Iran is now living below the poverty line.

Security forces were deployed to control the demonstrations. There were no immediate reports of violence, but the heavy presence of law enforcement forces highlighted the Islamic Republic's sensitivity to unrest in this economically vital area.

Iran's economy is in its worst state since the founding of the Islamic Republic in 1979, with global sanctions for human rights violations, its nuclear program and support for Russia's war on Ukraine pushing the country to the brink.