Dozens of companies tied to Iran’s elite Revolutionary Guards, a military force commanding a powerful industrial empire with huge political influence, will win sanctions relief under a nuclear deal agreed with world powers.
The development is likely to anger critics of the accord, not least in the United States and Israel, but may be welcomed by Iranians eager for Iran to reopen to the outside world. The IRGC will act for Western firms in many ways as a gatekeeper to some of the most lucrative areas of Iran’s economy.
Such is the clout of companies with ties to the Islamic Revolutionary Guards Corps (IRGC), which sees itself as the defender of Iran’s Islamic revolutionary ideals and bulwark against U.S. influence, that their release from financial curbs could of itself help ease return of swathes of the economy to the mainstream of world trade.
The process is complex and will unfold in stages, with some firms obliged to wait eight years for sanctions relief and others who can expect no concession even then from Washington, a reflection of concerns over activities beyond Iran’s borders.