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Iran confronts blackouts as protests Rock Capital



Power strikes hit Tehran earlier this week as protests shook the Iranian capital due to economic problems that have plummeted the nation's currency in recent months.

Under the looming threat of new US sanctions, the government has moved outlawing more than 1,300 foreign imports that can be produced domestically. Traders have responded to the economic woes this week with big protests and closed their dealings in Tehran's Grand Bazaar.

In another sign of growing economic turmoil, Tehran was thrown into a blackout on Wednesday, Radio Free Europe reported. Officials blamed the problem for a superheated power grid.

The country's energy minister, Reza Ardakanian, said electricity consumption had risen 28 percent year-on-year so infrastructure could not meet demand. [1

94559006]  2018- 06-27T023352Z_3_LYNXMPEE5P1NS_RTROPTP_3_OIL-OPEC-IRAN A gas torch on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf region, Iran, on July 25, 2005. In another sign of increasing economic turmoil, Tehran was caught in a blackout on Wednesday.
REUTERS / Raheb Homavandi / archival photo

Ardakanian said in April that the country is living through the worst drought in 50 years and power generation from hydroelectric power stations remains empty. The minister warned at the time that failures were inevitable, and urged the Iranians to reduce their power consumption.

When the blackouts hit Tehran, protests spread to other cities in Iran, as the country's currency has plummeted by nearly half the past six months. As a result, prices for everyday items have increased.

Iranian President Hassan Rouhani has attempted to alleviate the discontent of the protesters and broadcast a speech live state television Tuesday

"I even promise that in the worst case, the basic needs of the Iranians will be met, we have enough sugar, wheat and cooking oil, we have enough foreign currency to get into the market," said Rohani, who said the Rial was losing value on "foreign media propaganda "said Radio Farda.

Merchants told Reuters that they are not protesting against the ruling regime demonstrating against the economic woes that plague the country, and they complained that in the current situation it is becoming increasingly difficult to sustain their business as everyone "angry" be.  GettyImages- 983551104 Iranian protesters shout slogans on 25 June 2018 during a demonstration in central Tehran. – Traders at the Iranian capital's Grand Bazaar today held a rare protest strike against the collapse of the Rial on the foreign exchange market as demonstrators hit the streets went


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