IRGC

A dark world-map graphic showing global connection lines representing the IRGC’s international front-company network. A red silhouette of a soldier with the IRGC emblem appears on the left, and three yellow industry icons—petrochemicals, construction, and transport—sit at the bottom, symbolizing the sectors used by IRGC-linked shell companies.

The IRGC’s Global Front Company Network

Blog /

Introduction IRGC Front Company Network For years, global sanctions were expected to cripple the Islamic Revolutionary Guard Corps (IRGC), limit its financial reach, and disrupt its military expansion. Instead, the IRGC adapted, quietly constructing one of the most sophisticated front-company networks in the world. Today, this shadow economy spans Asia, Europe, Africa, and the Middle […]

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Tracing the Murky Maze: Illicit Financial Flows from Iran and the Conceptual Ambiguity of “Illicit”

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Abstract: This paper examines the complexities of tracing illicit financial flows (IFFs) originating from Iran, particularly within the context of prolonged international sanctions. It highlights the challenges in defining and measuring IFFs, especially when activities reside in the gray areas between legality and ethical norms. The paper analyzes the mechanisms employed by Iranian actors to

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