Iranian parliament holds closed-door session on economy

By Fares Karam

ISTANBUL

Iran's parliament held a closed-door session on Tuesday to discuss the country’s economic situation amid expectations of a fresh round of U.S. sanctions against Tehran.

Iran continues to face a host of serious economic challenges, including high unemployment and a weakening currency, due largely to longstanding U.S. economic sanctions.

MP Fatima Zul Qadr told Iran’s IRNA news agency on Tuesday that parliamentarians had discussed “developments pertaining to the [Iranian] currency market and demonstrations that occurred Monday in Tehran”.

At Tuesday’s parliament session, Zul Qadr said, Assembly Speaker Ali Larijani had presented a report to MPs on the country’s current economic situation.

Many Iranian traders and importers face difficulties obtaining foreign currency, which they need to pay for imported commodities.

On Monday, Iranian traders staged a demonstration outside the parliament building in Tehran to protest worsening economic conditions.

According to local media reports, demonstrators decried rising costs of living, demanding that politicians move swiftly to resolve the country’s chronic economic woes.