TEHRAN: Iran’s president warned domestic suppliers against hoarding or overpricing goods, state media reported on Thursday, as Tehran rolls out high-stakes subsidy reforms amid nationwide protests over economic hardship.

“People should ‌not feel any ‌shortage in terms of goods’ supply and distribution,” Masoud Pezeshkian said, calling upon his government to ensure adequate supply of goods and monitoring of prices across the country.

Iran’s subsidy reform is intended to favor consumers over importers by removing preferential currency exchange rates that allowed importers to access foreign currency at rates cheaper than those available to ordinary Iranians.

Under the new policy, Iranians will receive about $7 per month to purchase basic goods at select grocery stores. 

The prices of some basic goods, such as cooking oil and eggs, have increased significantly since the policy was announced.

Germany criticized the “excessive use of force” against protesters after authorities used live fire and tear gas to disperse demonstrations.

“It is their right to express their opinion peacefully,” said Foreign Minister Johann Wadephul of the protesters.

Meanwhile, Foreign Minister Abbas ‍Araqchi said Tehran remained open to negotiations with the US as long as they are based ‌on “mutual respect and ‌interests, ‌but it was ‌also ready for war if that is Washington’s intent.

Araqchi, speaking at a press conference in Beirut, added that his visit to Lebanon aimed to discuss Israel’s “challenges and threats” to regional security and to expand bilateral ties.