Iran Reshuffles Cabinet Ahead Of US Sanctions

President Hassan Rohani reshuffled his economic team this week in a bid to revitalize the economy and mitigate the impact of renewed US sanctions on 5 November. Mr Rohani on 31 October warned Iranians to brace themselves against hard times ahead, but vowed at the same time to use all government means to alleviate their hardships and reduce their problems.

The reshuffle, ratified by parliament on 27 October, is the latest realignment since the currency crisis erupted in April after the monetary authorities decided to unify the multi-tier exchange rate system at $1=IR42,000 (MEES, 13 April).

Farhad Djepasand, economist and academic, was appointed Minister of Economic Affairs and Finance, while former minister Mohammad Shariatmadari assumed the portfolio of Minister of Cooperatives, Labor and Social Welfare. Reza Rahmani was appointed Minister of Industries, while Mohammad Islami became Minister of Roads and Urban Development. (CONTINUED - 994 WORDS)