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Iran’s parliament impeached and sacked finance minister Abdolnaser Hemmati over soaring inflation and currency depreciation, with 182 out of 273 parliamentarians supporting his removal. The Iranian rial was trading at over 920,000 to the US dollar on the black market, compared to less than 600,000 in mid-2024. President Masoud Pezeshkian defended Hemmati, citing economic warfare and blaming chronic inflation as the country’s main economic challenge, leading to Hemmati’s replacement by deputy economy minister Rahmatollah Akrami.
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