Iran Confirms Ali Madanizadeh As New Economy Minister

Iran’s parliament on Monday confirmed the appointment of a new economy minister as the country grapples with deepening financial challenges, including surging inflation and a sharply devalued currency.

Ali Madanizadeh, 43, was approved as Minister of Economy and Finance, several months after former minister Abdolnaser Hemmati was removed through a no-confidence vote for failing to curb the worsening economic crisis.

State media reported that Madanizadeh secured 171 votes in favor, 61 against, and eight abstentions in the 290-member legislature.

Iran’s economic turmoil has been compounded by longstanding U.S. sanctions, which have driven inflation into persistent double digits and pushed consumer prices to record highs.

The pressure intensified following U.S. President Donald Trump’s return to office in January, when his administration reactivated the “maximum pressure” sanctions strategy against Tehran.

The economic crisis now coincides with a dramatic escalation in regional conflict.

Since Friday, Israel has launched large-scale strikes on Iran, targeting military bases, nuclear sites and residential areas across the country.

Recent attacks have claimed the lives of at least 224 individuals in Iran, among them high-ranking military officials, nuclear scientists, and numerous civilians.

In response, Iran has launched waves of drone and missile strikes, which have resulted in the deaths of at least 24 people in Israel, according to the most recent data released by the Israeli prime minister’s office.

Iran, which does not recognize the state of Israel, has consistently accused it of orchestrating covert sabotage missions targeting its nuclear infrastructure and of carrying out assassinations of its scientific personnel.

Africa Today News, New York