Iran’s Parliament has voted to impeach Economy Minister Abdolnasser Hemmati on March 2, only a few months after granting him a vote of confidence.

Lawmakers approved the impeachment with 182 votes for, 82 against, one abstention, and one invalid ballot, out of 266. Hemmati, who previously served as Governor of the Central Bank of Iran (CBI) during Hassan Rouhani’s second administration, will now leave President Masoud Pezeshkian’s cabinet. However, Pezeshkian may appoint him as Governor of the Central Bank of Iran.

Defending Hemmati before the vote, President Pezeshkian argued: “Economic problems today cannot be blamed on a single individual.” Parliament met in two sessions—morning and afternoon—to discuss the motion, during which MPs presented arguments both for and against the minister.

This impeachment marks the first time in recent memory that a newly appointed Minister of Economy has been removed within the first half-year of a presidency.

DEN subsidiary EcoIran noted that Masoud Pezeshkian was the first president whose economy minister had been impeached before completing the first year of his initial term.

A similar scenario arose at the start of Hassan Rouhani’s second term, when two ministers faced impeachment about seven months after receiving a vote of confidence, though those motions ultimately failed.

It is said that removing the fixed NIMA rate, which was done during Hemmati’s time, released pent-up pressure in Iran’s foreign exchange market, causing the rial’s value to fluctuate more widely, currently trading just below IRR930,000 against one dollar.

Critics in Tehran contend that soaring open-market dollar rates, coupled with the end of NIMA’s stabilising effects, have fuelled speculation and market turmoil—even though the move was intended to “end rent-seeking and corruption” in currency allocations.

Under Article 135 of Iran’s Constitution, President Pezeshkian must now appoint a caretaker minister for up to three months. During that time, he must propose a new nominee for Parliament’s review and potential approval.

Unofficial reports in Iranian media have identified several likely candidates for the position. According to financial news outlets, Kamel Taghavi-Nejad, Ali Tayyebnia, and Shapour Mohammadi are among those being considered.

All three have substantial economic credentials. Taghavi-Nejad served as a deputy finance minister and tax authority chief. Ali Tayebnia was a highly respected Minister of Economy (2013–2017) credited with curbing inflation. Shapour Mohammadi formerly led Iran’s Securities and Exchange Organisation (SEO).

Another name the media cites is the current Central Bank governor, Mohammad-Reza Farzin. One scenario would involve Farzin becoming the new Economy Minister, which would be a strategic reshuffle allowing a seasoned figure to lead economic and fiscal policy, while potentially paving the way for Hemmati’s return to the Central Bank.