Iran's Unrest: A Deep Dive into the Country's Largest Protests Since 2022
By Euronews
Published: January 1, 2026
The Islamic Republic of Iran is currently grappling with its most significant civil unrest since late 2022, sparked by a dramatic collapse in the value of the rial. Here's a breakdown of what's happening and why.
The Spark: Currency Crisis
Merchants across Iran's major cities shut down their stores on Sunday, January 1, 2026, as the rial plummeted to an unprecedented 1.42 million rials per dollar. This triggered widespread protests, with crowds gathering near Republic Street and the historic Grand Bazaar in Tehran.
Protests Spread Rapidly
By Tuesday, demonstrations had erupted in multiple cities, including Isfahan, Shiraz, Mashhad, Kermanshah, and Hamadan. Authorities responded with tear gas in parts of Tehran, highlighting the growing tension.
Political Changes and Unrest
On Monday, Mohammad Reza Farzin resigned as the central bank governor, while Parliament's budget committee rejected the government's spending proposals for the upcoming fiscal year. This further eroded public trust in the government's ability to address the economic crisis.
On Wednesday, President Masoud Pezeshkian appointed Nasser Hemmati as the new central bank governor. However, Hemmati's appointment was met with skepticism, as he had previously been removed from a similar role during a previous currency crisis.
Government Response and Criticism
Pezeshkian acknowledged the economic hardship and pledged to meet with protest representatives. Government spokesperson Fatemeh Mohajerani also addressed the protests, indicating a willingness to consider critical feedback. However, Revolutionary Guard (IRGC) commanders labeled the unrest as foreign-influenced destabilization efforts, a claim that has sparked debate.
The Symbolism of 'Tank Man'
A widely circulated image of a solitary demonstrator seated on the pavement in Tehran, surrounded by dispersing security forces, has become a powerful symbol of the protests. This image, reminiscent of China's 'Tank Man' from the 1989 Tiananmen Square protests, has gained traction on social media.
Economic Struggles and Inflation
The protests coincide with soaring inflation. Consumer prices have skyrocketed, with food prices 72% higher than the previous year, and medical supplies and services up 50%. Overall inflation stands at 42.2%.
International Sanctions and Currency Weakness
International sanctions, intensified after the US withdrawal from the 2015 nuclear accord, have severely constrained Iran's economy. The ongoing currency crisis, exacerbated by speculation about potential military escalation following the recent conflict with Israel, further weakens the rial.
The Way Forward?
As Iran grapples with this multifaceted crisis, the government faces the challenge of restoring economic stability, addressing public discontent, and navigating the complex international sanctions landscape.
