Iran's economy is going to hit the wall after Nov. 4

Over the past few months, Iran has faced a sharp drop in economic growth.  Iran's currency, the rial, has collapsed, losing 75 percent of its value.  That's a severe blow in an economy as reliant on imports as Iran.  Stores have closed down in Tehran's Grand Bazaar, evidence of just how hard the economy is already suffering.  And last week, a truckers and teachers strike rocked the cities.

The real torment will hit in November, when the U.S. targets Iran's oil industry  

U.S. Treasury undersecretary Sigal Mandelker, who is leading the difficult campaign of implementing and applying financial sanctions against Iran, as well as collecting intelligence about its infrastructure companies, investment companies, and banks, is tying up the loose ends in halting financing for terrorism.  He said on Oct. 21, 2018: "Our expectation is that because of our sanctions, oil purchases by foreign authorities from Iran will be going significantly down."

The second part of reinstituting sanctions, which was set in advance for Nov. 4, is designed to be much more severe and will include the energy sector.  Everyone expects to see steep declines, because Iran's economy is dependent on purchases of oil by Europe, China, and India.

Meanwhile, a key Chinese bank is preparing to halt transactions with Iran ahead of imminent U.S. sanctions against Tehran, according to Reuters

Kunlun, the largest conduit for money flows between China and Iran, is telling clients that it will stop processing payments from Iran starting Nov. 1, the news service reported.

Likewise, India's Reliance Industries Ltd., owner of the world's biggest refining complex, has halted imports of Iranian crude ahead of U.S. sanctions against Tehran's oil sector, its joint chief financial officer said.

In the meantime, in a TV interview on Oct. 12 in Iran, Hossein Raghfar, an economic expert working for the Iranian regime, has warned that major food shortages and revolts are in the making for Iran.  The economic crisis is pushing people toward revolting against the mullahs' regime.

As the Iranian regime faces new and escalating crises with each passing day, more people from all walks of life are seen holding protests in numerous cities throughout Iran.

Here are some pictures from inside the country:

On Oct. 23, 2018, more than 70 political prisoners were on hunger strike in Urmia (Urmia is the 10th most populous city in Iran) Central Prison, despite pressures and hollow promises provided by the prison authorities.  These political prisoners have now been on hunger strike for over a week now.

On Sunday, a large number of these political prisoners' families held a rally outside the facility, demanding that authorities respond to their loved ones' demands.

That wasn't the only site for unrest.

Youths in Behbahan, in southwest Iran, rallied at the Friday prayer site again this week, protesting being unemployed while authorities are hiring non-locals to work in a nearby refinery.  Here is a photo:

Behbahan: Youths protesting on Friday and demanding jobs.

There was also trouble in Varzaneh, an ancient central Iranian desert town in Isfahan province.  It is famous regionally and all over the world for its spectacular desert, which has been inhabited for 5,000 years

On Oct. 22, 2018, hardworking farmers of Varzaneh held a rally protesting the Iranian regime's plundering policies and not receiving their share of water for their lands.

Varzaneh strike.

There is a continuous stream of reports of further protests in cities across Iran.

A group of Ph.D. students in Tehran rallied on Monday outside the Iranian regime's parliament, seen also protesting the difficulty of finding jobs.

On Monday, Oct. 22, 2018, students of Amir Kabir University in Tehran also rallied, protesting the college officials' incompetence. 

Hassan Mahmoudi is a human rights advocate, specializing in political and economic issues relating to Iran and the Middle East.

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