Iran's industries risk collapse as grid falters, nuclear talks drag on
After Iran's leadership lashed out at President Donald Trump's recent castigating remarks about the country's energy crisis, key industrial units said they were on the verge of full bankruptcy due to government-ordered blackouts.
TEHRAN — The Iranian government is planning to close down a number of major industrial units later in June for a period of at least two weeks, as the approaching summer season means overwhelming pressure on the already struggling grid, according to state media.
"This will lead to nothing short of absolute bankruptcy," said Arash Najafi, the head of the Energy Commission at Iran's Chamber of Commerce, with the closures expected to hit such vital sectors as cement and steel production.
Iranian authorities have in recent months acknowledged a widening energy deficit in the country's power supplies, blaming multiple causes from past management to dwindling resources.
On Thursday, Energy Minister Abbas Aliabadi defended the planned shutdowns, saying the decision was made collectively among major government bodies, including the ministries of interior, industry, oil and energy, as well as provincial governors. Aliabadi argued that Iran is "among the leading countries in the region when it comes to electricity," and expressed confidence that the current energy crisis would soon come under control.
