President Hassan Rouhani heads to the podium for an address on National Teachers Day, Tehran, May 4, 2019


Iran’s President Hassan Rouhani has called for “unity and resistance” in the face of long-term economic problems and tightening US sanctions.

In a televised speech on National Teachers Day on Saturday, Rouhani declared, “Our war today is the war on hope. They want to break our hope, and we have to break their hope.”

He blamed “Israel, Saudi Arabia and racists angry with the JCPOA [July 2015 nuclear deal]” for the Trump Administration’s withdrawal from the agreement last May, followed by comprehensive sanctions in November.

The President’s statement was the latest by Iranian officials after the Trump Administration stepped up its campaign for regime change, announcing last week that it will end sanctions waivers in May for purchasers of Tehran’s oil.

Iran’s oil exports have already fallen by 60% since April 2018, from 2.5 million barrels per day to 1.1 million bpd. The Rouhani Government depends on oil revenue for more than a third of its budget.

Iranian officials have offered few practical steps to counter the pressure. The Supreme Leader has insisted, “We will export as much oil as we want@, an assurance echoed by Rouhani. The President has spoken of increasing non-oil exports, and Oil Minister Bijan Zanganeh has threatened Iran’s fellow OPEC members if they increase output to cover Tehran’s restricted sales.

Iran Daily, May 3: Oil Minister Threatens OPEC Members
Iran Daily, April 24: Supreme Leader — We Will Export As Much Oil As We Want

Rouhani said on Saturday, “America will only let go of this game when it realizes it cannot achieve anything. We have no way but to resist and unite.”

He repeated his call to “counter this scheme…by stepping up production and exportation of Iranian products, along with storing and selling petrochemical products”.

Iran’s currency dipped on Saturday to 149,000:1 against the US dollar, its lowest level in months.

The rial lost 75% of its value last year to hit a historic low of 190,000:1 in the autumn before intensive Government intervention brought a limited recovery.

Rouhani referred to the situation on Saturday, “We have to increase our hard currency income and cut our currency expenditures.”