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Business News›News›International›World News›Iran warns of escalating sanctions, market inflation; says enemy wants to compensate for defeat in economic war

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Iran warns of escalating sanctions, market inflation; says enemy wants to compensate for defeat in economic war

Synopsis

Iran's First Vice President warns of economic warfare after military standoffs. He stated that adversaries seek to exploit inflation and provoke social discontent. Iran remains committed to international law but will protect its rights and achievements. The government must counter economic pressure through national unity and planning. Improving livelihoods and controlling inflation are top government priorities.

ANI

Tehran: Iran's First Vice President, Mohammad Reza Aref, has warned that external adversaries, specifically the United States and Israel, are shifting their strategy to economic warfare following recent military standoffs, according to Iranian media.



Aref claimed the "enemy" is seeking to offset military setbacks by escalating economic pressure and exploiting domestic inflation to provoke social discontent.



Also read: Iran economy begins to recover after war as business activity picks up

According to Iran's ISNA news agency, Aref made the remarks at a meeting of the Market Regulation Headquarters, where he said Iran remained committed to international law but would not compromise on its rights.



"The Islamic Republic of Iran is law-abiding in the international arena, but it will not compromise on its rights and must protect its achievements in the recent war, including in the area of managing the Strait of Hormuz," Aref said.




"The enemy now wants to compensate for its defeat on the military front in the economic war, and the government must also stand against this approach with appropriate planning," he said.

Aref said Iran could withstand economic pressure through national unity and cohesion, even if the "enemy" had greater resources.

"Although the enemy's resources may be greater in an economic war, the experience of the two recent imposed wars showed that the enemy can be defeated by maintaining national unity and cohesion," he said, urging political and sectional considerations to be set aside in favour of national interests.



Turning to domestic economic conditions, Aref called for intensified market monitoring and strict action against overpricing, underselling and hoarding. "Supervisory and inspection bodies must deal seriously with overpricing, underselling, and hoarding," he said.



Also read: What Bessent’s economic isolation of Iran could look like



Aref said, "Prices have reached a disturbing level," adding that the "enemy's strategy is to use the wave of price increases, and all institutions must come to the fore to counter it."



He said the price surge caused by structural reforms had ended, but its psychological impact needed to be contained.



Aref identified improving people's livelihoods as the top priority of the President and government, with controlling inflation, stabilising the market and maintaining purchasing power for basic goods, particularly among vulnerable groups, among the priorities of the government's next two-year plan.



He also warned of pressure on Iran's economic and social fronts and called for preparations for worst-case scenarios.



"The enemy is active on the economic and social front and seeks to create discontent and social collapse. The government must be prepared for all situations with operational and innovative plans, while preserving social capital," he said.



The statement came as Iranian Parliament Speaker Mohammad Ghalibaf said that Tehran emerged victorious both militarily and politically from what he described as an "unjust war" led by the United States and Israel, state broadcaster Press TV reported on Sunday.



In a post on Telegram, Press TV shared his remarks, in which the Iranian official said that the country stood firm against the "unjust war" led by the US and Israel.



Also read: 'May become offensive': IRGC deputy signals shift in Iran's military doctrine



In his remarks, Ghalibaf further noted, "I can say with complete conviction that we truly emerged victorious in this war, both militarily and politically."



His remarks came as US President Donald Trump has consistently claimed of destruction of Iran's military infrastructure.



As per Press TV, Ghalibaf also described the Memorandum of Understanding (MoU) between Iran and the United States as a source of "pride and victory", saying it would help consolidate Iran's success on the diplomatic front.



"The MoU between Iran and the US is a source of pride and victory, helping to consolidate our success on the diplomatic front."

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