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situation report

Oct 9, 2018 | 16:49 GMT

1 min read

Iran: Government to Provide Coupon Assistance to Citizens Receiving Subsidies

What Happened: Iran's government will allocate coupons worth 1 million rials (around $24) each month for all 11 million citizens who receive subsidy support, Fars reported Oct. 9. In addition, similar coupons — which will be redeemable for food staples at major supermarket chains in the Islamic republic — worth 3 million rials will be given to 20 million people with monthly salaries under 30 million rials.

Why It Matters: Iran's government is preparing measures to weather U.S. sanctions that take effect in November. U.S. pressure has already taken a toll on Iran's struggling economy, causing Iranians to lose purchasing power as the country's currency continues to lose value.

Background: The current U.S. administration has worked to pressure Iran by abandoning the Iran nuclear deal and levying sanctions against the Islamic republic. Further U.S. sanctions against Iran will take effect on Nov. 5.

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