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(TIME) Kay Armin Serjoie - In 2024, the Islamic Republic of Iran lost in Gaza, in Lebanon, and in Syria, where the Assads left behind a debt to Tehran of $30 billion. The Axis of Resistance is down to rump militias in Iraq and the Houthi tribe of Yemen. Inside Iran, things may be even worse. The economy is at its lowest point since the 1979 Revolution. The Iranian rial has fallen 46% in the past year, and is officially the world's least valuable currency. The devaluation of the rial means the heavily subsidized petrol prices (8-15 U.S. cents per gallon) have become untenable. While price increases are planned, the last time that happened, in 2019, the country was plunged into nationwide protests, in which at least 304 people were killed. Iran - home to the second largest natural gas reserves in the world - is facing gas shortages that are forcing the curtailment of electricity production, leading to planned blackouts for its populace. 2024-12-19 00:00:00Full Article
Humiliated Abroad, Iran Is Also Enfeebled at Home
(TIME) Kay Armin Serjoie - In 2024, the Islamic Republic of Iran lost in Gaza, in Lebanon, and in Syria, where the Assads left behind a debt to Tehran of $30 billion. The Axis of Resistance is down to rump militias in Iraq and the Houthi tribe of Yemen. Inside Iran, things may be even worse. The economy is at its lowest point since the 1979 Revolution. The Iranian rial has fallen 46% in the past year, and is officially the world's least valuable currency. The devaluation of the rial means the heavily subsidized petrol prices (8-15 U.S. cents per gallon) have become untenable. While price increases are planned, the last time that happened, in 2019, the country was plunged into nationwide protests, in which at least 304 people were killed. Iran - home to the second largest natural gas reserves in the world - is facing gas shortages that are forcing the curtailment of electricity production, leading to planned blackouts for its populace. 2024-12-19 00:00:00Full Article
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