Mohammad Baqer Nobakht: Iranians Abroad Should Bring Their Currency Back to Iran

The spokesperson for the Iranian government, following the fall in the national currency's value, urged Iranians abroad to bring their investments back to Iran, while other citizens should also introduce their gold and foreign currency into the market. Mohammad Baqer Nobakht, on Tuesday, July 5, addressed the currency crisis in Iran during a press conference, attributing this crisis to U.S. President Donald Trump's decision to withdraw from the nuclear agreement. He stated, "As a committed nation, we participate in a treaty and adhere to it due to our Islamic ethics... Until last year, everything was fine. We did not deviate from the international covenant; Trump has launched an economic war against the world. People should know that their government is not the cause of monetary instability but rather due to America's greed." The U.S. President, on May 8, gave foreign companies that had contracts with Iran six months to cut their business ties with Tehran. Trump has repeatedly claimed that Iran has not adhered to the spirit of the nuclear deal and, in addition to developing its ballistic missile program, has exacerbated insecurity in the region and jeopardized global security. However, while U.S. sanctions against Iran's nuclear program have not yet been reinstated, the currency market in Iran has experienced severe turmoil, with the value of the Iranian rial plummeting to the point where, on July 3, the price of each dollar reached nearly 9,000 tomans. Although some reports indicate that with the government's decision to recognize the secondary currency market, the dollar rate decreased by 1,000 tomans on Tuesday. In his statements on Tuesday, Nobakht called for "national support" for the country's currency, stating, "Iranians abroad should bring their currency back home. People should also bring their foreign currency and gold into the market. The government, which seeks to strengthen the national currency, needs national support; expectations from the government are rightful and justified. However, the government cannot proceed without the support of the nation." He then referred to the Iranian government's action of injecting gold coins into the market, saying, "Which country sells seven million coins? Which country has its people standing in line for currency? What does standing with Trump mean? We must strive for our country and strengthen our national currency. Trump is not our well-wisher; we must be our own well-wishers." Tehran has witnessed gatherings and protests from merchants and shopkeepers in recent days, which began with mobile phone sellers protesting the high currency prices. Iranian judicial officials say that security forces have arrested several protesters. Nobakht's remarks and his call for Iranians inside and outside the country to return their investments to the domestic market have drawn reactions from some Iranian social media users, who have largely criticized the government spokesperson. Morteza Kazemian, a journalist and political analyst, wrote on his Twitter page: "Has Nobakht lost touch with reality, thinking he is the spokesperson for Dr. Mossadegh's national government? Are he and other rulers really so unaware of the gap between society and the government?" One user, referencing the residence of some officials' children abroad, wrote: "First, those few million dollars that the children of the elite took with them should be returned, then we will give them currency and gold." Another user wrote: "Dear Nobakht, I will certainly help you with utmost respect. I have some high-quality gold that has been hidden in a shrine donated to the holy sites. I will provide the exact address for you to go and collect it."