At the very apex of this unaccountable economy is the deep entanglement of the Islamic Revolutionary Guard Corps (IRGC) and its affiliated construction and engineering arm, Khatam al-Anbia. The IRGC has aggressively diversified its operations far beyond defense, dominating lucrative sectors like large-scale construction, telecommunications, energy, and control over crucial import and export hubs. This military-economic hegemony often sidelines the genuine private sector, ensuring that the most profitable projects are awarded to insiders, further cementing a system of crony capitalism where loyalty, not competence, is the key determinant of economic success. The vast profits generated by these entities frequently bypass the official state budget entirely.
