Varasteh was born in 1896.[1] He served as the minister of health in the cabinet led by Prime Minister Ali Mansur between 4 April and June 1950.[2] Varasteh replaced Amir Alam in the post, and his successor as health minister was Jahanshah Saleh.[1] In March 1951, Varasteh was named as the minister of finance in the cabinet led by Hossein Ala'.[3] However, his tenure ended on 27 April when the cabinet resigned.[3] On 2 May, Varasteh was appointed to the same post in the next cabinet led by Prime Minister Mohammad Mosaddegh.[3][4] He became one of the members of the Committee of Expropriation which was founded by Mosaddegh in May 1951 to eliminate British control in Iran's oil industry.[5] Varasted was also head of the Iranian delegation which had been formed to implement this process.[6][7] He resigned from office and was replaced by Mahmoud Nariman as finance minister.[6]
Following the coup in 1953 which ended the premiership of Mosaddegh Varasted was appointed the governor of Isfahan province.[8] Then he was made a senator.[9] In 1963, protests led by religious figures intensified in Iran due to the policies of Mohammad Reza Shah.[9] Hossein Ala', Abdollah Entezam and Varasteh personally expressed their concerns about the Shah's policies and their potential results which made all of them outsiders in the court.[9] In addition, Ala' and Entezam were dismissed from the Senate of Iran to which they had just been appointed.[9]
Soon after the Shah left Iran, a regency council was established to undertake the duties of the Shah in January 1979.[10] Varasteh was named as one of the members of the council.[11] Initially Seyed Jalaleddin Tehrani was named as the head of the council, but he resigned soon.[12] Varasted replaced him as the chair of the regency council.[8][12] He died in Tehran in 1989.[8]
