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Iran leader backs petrol price hike that sparked deadly unrest

Iran's supreme leader on Sunday threw his support behind a decision to hike petrol prices, a move that sparked nationwide unrest in which he said "some lost their lives".
Ayatollah Ali Khamenei blamed "hooligans" for damaging property and said "all the centres of the world's wickedness against us have cheered" the street protests.
Several people were wounded and dozens arrested in two days of demonstrations that saw motorists block highways and others attack public property in cities across the Islamic republic.
In a speech aired on state television, Khamenei said "some lost their lives and some centres were damaged" in the unrest.
The protests flared hours after it was announced in the early hours of Friday that the price of petrol would be raised by 50 percent for the first 60 litres (16 gallons) and by 300 percent for anything above that each month.
The scheme was agreed by the High Council of Economic Coordination made up of the president, parliament speaker and judiciary chief.
Khamenei said that "I am not an expert and there are different opinions but I had said that if the heads of the three branches make a decision I will support it.
"The heads of the branches made a decision with the backing of expert opinion and naturally it must be implemented," he said.
"Some people would definitely get upset over this decision... but damaging and setting fire (to property) is not something (normal) people would do. It is hooligans."
Following his speech, parliament cancelled a motion to reverse the petrol price hike, semi-official news agency ISNA reported.
Khamenei also pointed at regime opponents abroad in what he called "the centres of the world's wickedness".
These included the Pahlavi royal family ousted in the 1979 Islamic Revolution and the People's Mujahedeen of Iran (MEK) group, which Iran considers a "terrorist" cult.
"What I am asking is that no one help these criminals," Khamenei said, calling on people to distance themselves from those stoking the street protests.
Some of the worst violence occurred in the central city of Sirjan, whose acting governor Mahmoudabadi said a civilian was killed.
He said some people had "destroyed public property, damaged fuel stations and also wanted to access the oil company's main fuel depots and set fire to them".
In Tehran on Saturday, protesters were seen blocking a road while elsewhere in the capital demonstrators gathered around a burning vehicle.
Similar scenes were witnessed in the central cities of Shiraz and Isfahan.
Forty "disruptors" were arrested in the central city of Yazd after clashing with police, the province's public prosecutor Mohammad Hadadzadeh told ISNA on Sunday.
Most of them were non-locals who had joined the protests with "ill-intent," he added.
Police spokesman Ahmad Nourian warned that security forces "will not hesitate to confront those disrupting peace and security and will identify the ringleaders and field forces and confront them".
He called on people to denounce "the opportunists and mercenaries" and help police keep the peace, in remarks quoted by ISNA.
The intelligence ministry said those behind the unrest had been identified.
"The main elements of the past two days' riots have been identified and proper measures are being taken, the results of which will be reported to the public," it said, quoted by ISNA.
Access to the internet has been restricted since the demonstrations broke out.
Netblocks, an internet monitoring website, said late Saturday the country was in the grip of a shutdown.
"Confirmed: Iran is now in the midst of a near-total national internet shutdown; realtime network data show connectivity at 7% of ordinary levels after twelve hours of progressive network disconnections," it said on Twitter.
It came after a decision by the Supreme National Security Council of Iran, according to a report by ISNA on Sunday.
"Upon the decision of the Security Council of Iran and communicated to internet operators, access to internet has been limited as of last night and for 24 hours," it quoted what it called an informed source at the information and communications technology ministry as saying.
Iran's economy has been battered since May last year when President Donald Trump unilaterally withdrew the US from a 2015 nuclear agreement and reimposed crippling sanctions.
The rial has plummeted, inflation is running at more than 40 percent and the International Monetary Fund expects Iran's economy to contract by 9.5 percent this year and stagnate in 2020.
source:AFP
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- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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