Tuesday 16 February 2010

The financial power of Iran's Revolutionary Guards

The extent of the Revolutionary Guards' control over the Iranian economy is ­apparent as soon as you enter the country. They run the main international airport, and the manner in which they acquired it was a bruising demonstration of the way big business is now done in Iran.
The contract for managing Imam Khomeini airport, south of Tehran, was given to a Turkish-Austrian consortium in 2004, but on 8 May, the day it was supposed to open, guardsmen took it over, blocking the runways with their vehicles, and closing it down. Inbound flights had to be hastily diverted.
The Islamic Revolutionary Guard Corps (IRGC) declared that the involvement of foreigners posed a security risk because of an alleged link to Israel, but it was clear that the foreign consortium's biggest mistake was to try to cut the IRGC out of its business model.
Ever since, excluding the guards has been exceedingly difficult, if not impossible, from Iran's economy...
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