The recent unrest originated with merchants in Tehran's Grand Bazaar, a group that prioritizes stability. Their protests highlight the crisis's economic roots: inability to access hard currency for imports, rampant inflation, and collapsing consumer demand, making business untenable for even multi-million dollar traders.

Due to sanctions, Iran's oil exports go almost exclusively to China. This monopsony gives Beijing immense leverage, allowing it to demand deep price discounts and pay in yuan. The funds are held in Chinese banks, restricting Iran to using them only for Chinese goods, crippling its ability to buy essentials elsewhere.

Rather than surgical strikes, which have a poor historical track record, the most effective foreign support for Iranian protesters is restoring their internet connectivity. The regime kills in the dark; offensive cyber operations that tear down its 'digital iron wall' directly empower citizens and expose atrocities.

When a government cuts off internet and phone lines during massive protests, as seen in Iran, it's a clear indicator they are trying to conceal the severity of their response from the world. This tactic undermines their own claims of control and reveals a deep fear of international scrutiny.

The progression of protest slogans from demanding a vote recount in 2009 ('Where is my vote?') to calling for regime overthrow today ('Death to the supreme leader') indicates a fundamental change. Protestors no longer seek to work within the existing system but aim to dismantle it entirely.

The current Iranian protests are uniquely potent because the regime is at its weakest geopolitically. The loss of regional proxies like Hezbollah and Hamas, coupled with key ally Russia's preoccupation with Ukraine, has left the Iranian government more isolated and vulnerable than during any previous wave of unrest.

While US sanctions are a factor, the Iranian currency's freefall is largely due to structural corruption. The economy is dominated by the military and clerical foundations, a political-economic model that stifles growth and fuels public anger—a problem sanctions relief alone cannot solve.

After a two-week stock market shutdown during a previous conflict, a massive sell-off occurred. This was a liquidity event, not a reflection on fundamentals. Retail investors, who dominate the market, were locked out of their funds and sold at any price simply to access cash, creating a cascading effect.

Unlike the 2022 protests led by middle-class women over social freedoms, the current unrest is driven by jobless young men—a traditionally pro-regime group—angry about economic collapse. This shift in demographics and motivation makes the government's usual appeasement tactics less effective.