To protect the country’s currency from falling any further, the Iranian authorities have announced a ban on the import of over 1,300 goods. In fact, suffering from the effects of the latest US sanctions, the Iranian Rial has recently reached an all-time low. Iran’s industries and trade minister, Mohammad Shariatmadari said that the prohibited imports focused on goods that could be produced domestically. The list will include home appliances, textile products, footwear and leather products, as well as furniture, healthcare products and some machinery.
This economic crisis is resulting in Iranians transferring their savings to US dollars which caused the stock market to jump to a record high. However, it also originated protestations by merchants, against the increasing cost of imports.
Iran bans import goods including footwear and leather items.
