Source: Fortune
Summary
The Islamic Revolutionary Guard Corps (IRGC) is a key player in Iran’s future, particularly after the death of Supreme Leader Ali Khamenei. The IRGC has emerged as a potential source of new leadership and is carrying out Iran’s military response to US attacks. The IRGC has a vast military-industrial complex and a diversified business empire that helps finance the regime. The empire includes industrial sectors like oil and transportation, as well as banking, telecommunications, and real estate. The IRGC uses affiliates to engage in business activities and has a network of foundations that form semi-private monopolies.
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The numbers tell one story. The IRGC’s business empire is vast, with estimates suggesting it accounts for over half of Iran’s GDP. The IRGC has expanded its control under the guise of “economic resistance” and “self-reliance” due to Western sanctions. The IRGC is involved in covert and illegal activities, such as smuggling and using cryptocurrencies to evade sanctions. The IRGC’s grip on the economy has consolidated despite efforts to liberalize it. The US and Israel’s bombing campaign has added to the turmoil in Iran’s already struggling economy.
The IRGC’s power is rooted in its diversified business empire, which has become a critical component of its military and ideological agenda.
Author: Evan Null
