Mojtaba Khamenei urges Iran to curb dollar dominance
Masoud Pezeshkian said Iran's trade has fallen 25-35 percent as U.S. sanctions and a sea blockade squeeze the economy.
Iran's Supreme Leader Mojtaba Khamenei called on the government to gradually reduce the dominant role of the U.S. dollar and rely more heavily on domestic production to confront economic pressure. He posted the message on X on Friday, coinciding with Iran's Government Week. Mojtaba highlighted inflation, unemployment, price controls and the management of goods and services markets as urgent problems. He also called for investment to be directed toward sectors considered important and beneficial, while placing the policy of "resistance economy" at the center of the government's agenda. Under the strain, President Masoud Pezeshkian said Iran's trade has shrunk 25-35 percent because of U.S. sanctions and a sea blockade. The rial also fell past 2 million per U.S. dollar in the free market this week.