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Reading: Iran’s Islamic Revolutionary Guard controls a sprawling enterprise empire that dominates the financial system | Fortune
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Asolica > Blog > Business > Iran’s Islamic Revolutionary Guard controls a sprawling enterprise empire that dominates the financial system | Fortune
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Iran’s Islamic Revolutionary Guard controls a sprawling enterprise empire that dominates the financial system | Fortune

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Last updated: March 2, 2026 6:26 pm
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2 months ago
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Iran’s Islamic Revolutionary Guard controls a sprawling enterprise empire that dominates the financial system | Fortune
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Iran’s Islamic Revolutionary Guard controls a sprawling enterprise empire that dominates the financial system | Fortune

The Islamic Revolutionary Guard Corps might be a significant participant in figuring out the nation’s future as President Donald Trump seeks regime change in Iran, and the huge military-industrial complicated it has constructed is vital to its energy.

As he plots an endgame, Trump appealed on to the IRGC and different elements of Iran’s safety equipment throughout his video deal with early Saturday, telling members they are going to obtain immunity in the event that they lay down their arms.

The IRGC started as a paramilitary power after the 1979 revolution to make sure the regime’s political energy by implementing Islamist ideology and cracking down on dissent.

It’s comprised of army items that run parallel to, however exterior of, Iran’s typical forces. Through the years, the IRGC additionally developed a diversified enterprise empire that helps finance the regime in addition to its personal army and ideological agenda. That empire consists of core industrial sectors like oil and transportation in addition to banking, telecommunications, agriculture, drugs, and actual property.

The IRGC makes use of associates to interact in enterprise actions. For instance, the Khatam al-Anbiya engineering agency has constructed refineries, a railway line, a dam, and a pure gasoline pipeline. It additionally controls Tehran’s worldwide airport.

One other pillar of the IRGC’s enterprise empire is its community of “foundations” that basically type semi-private monopolies, although they started as organizations to advance spiritual and revolutionary objectives.

“However, over time, wealth accumulation in the service of a wider range of ruling elite objectives, such as self-enrichment, political control, regime survival, and social engineering, became an end in itself,” the Clingendael assume tank stated in an October report. “What began as vehicles for social justice evolved into corporate-style conglomerates that were shielded from oversight and yet central to the power base of the revolutionary state.”

These IRGC-affiliated foundations are so huge that Clingendael estimated they accounted for greater than half of Iran’s GDP in 2013.

Whereas Iran has beforehand tried to liberalize its financial system and weaken the IRGC’s grip, it has as a substitute consolidated management. That’s due, partly, to Western sanctions that blocked efforts to attempt to combine Iran with the remainder of the worldwide financial system.

Because the U.S. and different governments sought to rein in Iran’s nuclear program by sanctioning oil and different areas of the financial system, the IRGC used it as a possibility to increase beneath the guise of “economic resistance” and “self-reliance,” in response to Clingendael.

With the West tightening the screws on the Iranian financial system, the IRGC engaged in covert and unlawful actions, corresponding to utilizing cryptocurrencies and delivery oil to evade sanctions.

The IRGC can also be concerned in smuggling alcohol, narcotics, weapons, and tobacco, amongst different merchandise, in response to a 2024 report from the protection intelligence agency Janes.

However Iran’s financial system has been in shambles, even earlier than the most recent U.S. strikes, as a number of crises have created turmoil.

The foreign money misplaced 60% of its worth after Iran and Israel fought a 12-day struggle in June, inflation spiked, persistent vitality shortages pressured blackouts, and a historic drought has depleted water provides.

The collapse of the foreign money sparked widespread protests in late December and early January, prompting the regime—with the assistance of the IRGC—to bloodbath hundreds of Iranians. Trump vowed to return to their help, finally main as much as the present U.S.-Israel bombing marketing campaign.

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