The Islamic Republic stands on the precipice. It is January 2026, and the streets of Iran are burning not with reformist zeal, but with revolutionary fury. In this special Deep Dive episode of The Levant Files, we deconstruct the "perfect storm" that has shattered the regime’s grip on power.

We begin with the catalyst: a catastrophic economic collapse that saw the Rial plummet to 1.45 million against the dollar. We explain why the powerful Bazaar merchants—historically the regime’s financial backbone—have locked their doors in a strike that signals a total loss of faith in the system. From the aisles of empty grocery stores to the burning government buildings in Lordegan, we trace how economic hopelessness has mutated into a singular political demand: the end of the theocracy.

Our analysis exposes the regime’s schizophrenic "dual-track" survival strategy: the hollow conciliatory rhetoric of President Pezeshkian pitted against the brutal, live-fire crackdown orchestrated by a newly emboldened IRGC. We also explore the unprecedented calls for a transition government led by Crown Prince Reza Pahlavi and the groundbreaking legal battle in Argentina using universal jurisdiction to hunt down Iranian officials abroad.

Is this the final chapter for the revolution of 1979? Join us as we strip away the noise and reveal the mechanics of a nation at its breaking point.

Tune in now to The Levant Files for the essential briefing on the crisis reshaping the Middle East.

Photo: Iran International