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Iranians face economic uncertainty as US reimposes sanctions
Tehran, Aug 7 (IANS) Iranians are concerned that further financial woes could be on the horizon after Washington reimposed economic sanctions on Tehran which had been earlier lifted as part of the 2015 Iran nuclear deal that incumbent US President Donald Trump despised.
Although many Iranian citizens insist that they felt little economic benefit from the internationally backed accord, which saw Tehran trade in its nuclear programme for a partial slackening of sanctions, there were growing concerns that a new economic strategy adopted by the government to mitigate the fresh US sanctions would prove to be insufficient.
“It shames me to say it, but I don’t have enough to maintain the amount of food I used to have, I don’t buy meat anymore and most days I make lentils,” Faride, a middle-class woman whose income depends on her late husband’s pension, told Efe news. “I don’t know how things will pan out with the sanctions.”
Product shortages, inflation and rising unemployment are at the forefront of many peoples’ minds in Iran, where tensions boiled over last week and gave way to rare street protests in several cities.
Trump signed an executive order for the punitive financial measures to be brought back into effect and warned on Tuesday that any country doing business with Iran would not do business with the US.
The rial has lost almost half its value against the dollar since Trump announced he would pull out of the 2015 nuclear deal in May, which was signed by his predecessor Barack Obama, the UK, the EU, France, Russia, China and Germany.
This has driven inflation up. Prices for dairy products rose 32 per cent in the space of a week.
The rapid devaluation of the rial has also impacted imports, a sector that will likely also be hit hard by the return of US sanctions, which were designed to limit the Iranian government’s access to gold, metals and dollars.
Iranian President Hassan Rouhani’s government said the Central Bank would maintain its official exchange rate with the dollar, currently valued at 42,000 rial, and would request that oil companies sell foreign currency reserves to companies that import basic goods like food and medicine.
Rouhani, considered a moderate in the context of Iran’s theocratic Shia regime, was in power when the 2015 deal, officially titled the Joint Comprehensive Plan of Action, was struck.
He also granted permission for currency exchange offices to reopen, the majority of which had been closed when the exchange rate was fixed in April.
Most of the outlets in Tehran remained closed on Tuesday. All remaining signatories of the 2015 nuclear accord have vowed to stay committed to the deal.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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