The Republic of Kurdistan
"The best way to pay respect to our martyrs is to continue their struggle." - Dr. Ghassemlou

The crisis of the Iranian economy overthrows a second minister

The Iranian Shura Council has withdrawn confidence from the Minister of Economic and Financial Affairs Masoud Karbassian on Sunday in a new blow to the government, which is struggling to cope with a crippling economic crisis.

Karabasian lost the vote of confidence broadcast directly on state radio by 137 votes to 121, and two abstentions, making him the second minister in the government of President Hassan Rouhani is isolated this month, according to Reuters.

The move is the latest in continuing changes in the level of economic leaders, while the United States re-impose sanctions on Iran over its nuclear program and other issues.

In early August, Iranian lawmakers voted to dismiss the Labor Minister, and last month Rouhani reshuffled the central bank’s governor.

The economy is facing a severe crisis recently after the Iranian riyal has lost about half of its value since April, following the announcement of new US sanctions, mainly affected by strong demand for the dollar from Iranians seeking to protect their savings.