Iran president warns of economic collapse

The Islamic Republic could face economic collapse within weeks, Iran’s president has warned, speaking amid a growing power struggle with the powerful Revolutionary Guard, an opposition outlet reported on Sunday.

According to Iran International, President Masoud Pezeshkian has clashed with Guard commander Ahmad Vahidi over the conduct of the war against Israel and the United States and its toll on ordinary Iranians, urging that a ceasefire be reached within about a month to avoid “total” economic failure and demanding key executive powers be returned to the civilian government.

Vahidi reportedly rejected the request as Iran grapples with empty ATMs, severe online banking disruptions, months of delayed public-sector salaries and continued high inflation on basic goods on top of a pre-war rate of roughly 105% to 115%.