Rouhani: Iran will not give in to Trump’s pressure
LONDON — Iranian President Hassan Rouhani promised Iranians the government would be able to handle the economic pressure of new sanctions from the United States.
Washington is to start reimposing economic penalties on Teheran in coming months after US President Donald Trump quit an agreement between major world powers and Iran in which sanctions were lifted in return for curbs on its nuclear program.
This may cut Iran’s hard-currency earnings from oil exports, and the prospect is triggering a panicked flight of Iranians’ savings from the rial into dollars.
On Monday, police patrolled Teheran’s Grand Bazaar as security forces struggled to restore normality after clashes with protesters angered by the rial’s collapse, which is disrupting business by driving up the cost of imports.
Defending his economic record, Rouhani said the government’s income had not been affected in recent months, and the fall in the rial was the result of “foreign media propaganda”.
“Even in the worst case, I promise that the basic needs of Iranians will be provided. We have enough sugar, wheat, and cooking oil. We have enough foreign currency to inject into the market,” Rouhani said in a speech broadcast live on state television.
Rouhani said the fresh US sanctions were part of a “psychological, economic and political war”, adding that Washington would pay a high price for its actions. “Withdrawal was the worst decision he (Trump) could make. It was appalling. It hurt America’s global reputation,” he said.
Meanwhile, Iran is banning imports of more than 1,300 products, preparing its economy to resist threatened US sanctions.
Prohibited imports include home appliances, textile products, footwear and leather products, as well as furniture, healthcare products and some machinery, the Teheran Times said.
The order suggests the US sanctions threat is pushing Teheran back toward running a “resistance economy” designed to conserve foreign exchange reserves and become as selfsufficient as possible in many products.