0441 GMT June 26, 2022
Iran’s Islamic Revolution Guards Corps (IRGC) said on Thursday its intelligence forces have discovered and seized over 35,000 tons of hoarded and smuggled essential goods since the beginning of the implementation of a plan in the country to liberalize prices.
The IRGC, in a statement, put the value of the seized items at $500 million, according to Sepah News.
A few days ago, the Iranian government approved major price hikes for four essential food items as part of a plan to liberalize prices by removing subsidies given to importers and suppliers and redirecting them to the households instead.
A May 12 announcement by Iran’s Headquarters for Market Regulation raised the prices of dairy products, chicken, egg and cooking oil.
The IRGC’s statement listed the confiscated products as cooking oil, rice, sugar and sugar cubes, pasta and flour.